Pomerantz LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of American Depository Shares and Warrants o...
October 15 2018 - 8:00AM
Pomerantz LLP announces that the United States District Court for
the Southern District of New York has approved the following
announcement of a proposed class action settlement that would
benefit purchasers of American Depository Shares and warrants of
Kitov Pharmaceuticals Holdings, Ltd. (NASDAQ:KTOV).
SUMMARY NOTICE OF PENDENCY AND PROPOSED
SETTLEMENT OF CLASS ACTIONS AND FINAL APPROVAL HEARING
To: |
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ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED (1) KITOV
AMERICAN DEPOSITORY SHARES BETWEEN NOVEMBER 20, 2015 AND FEBRUARY
6, 2017, BOTH DATES INCLUSIVE; OR (2) KITOV AMERICAN DEPOSITORY
SHARES OR WARRANTS TO PURCHASE KITOV AMERICAN DEPOSITORY SHARES ON
OR ABOUT NOVEMBER 20, 2015 OR ON OR ABOUT JUNE 28,
2016. |
YOU ARE HEREBY NOTIFIED, pursuant to an Order of
the United States District Court for the Southern District of New
York, that a hearing will be held on January 24, 2019, at 11:15
a.m. before the Honorable Lorna G. Schofield, United States
District Judge of the Southern District of New York, Thurgood
Marshall United States Courthouse, 40 Foley Square, Courtroom 1106,
New York, New York 10007 for the purpose of determining: (1)
whether the proposed Settlement of the claims in the
above-captioned Action, as well as the related consolidated
actions, Ng v. Kitov Pharmaceuticals Holdings, Ltd., et al., Case
No. 17CIV00620, and Zulch v. Kitov Pharmaceuticals Holdings, Ltd.,
et al., Case No. 17CIV01173, pending in the Superior Court of
California, San Mateo County, for consideration including the sum
of $2,000,000 should be approved by the Court as fair, reasonable,
and adequate; (2) whether the proposed plan to distribute the
Settlement proceeds is fair, reasonable, and adequate; (3) whether
the application of Lead Counsel for an award of attorneys’ fees of
up to one-third of the Settlement Amount ($666,666.67) plus
interest, reimbursement of expenses of not more than $150,000, and
a Compensatory Award to Plaintiffs of no more than $10,000
collectively (or $2,500 each) should be approved; and (4) whether
these Actions should be dismissed with prejudice as set forth in
the Stipulation of Settlement, dated July 27, 2018 (the “Settlement
Stipulation”).
If you purchased Kitov Pharmaceuticals Holdings,
Ltd. (“Kitov”) American Depository Shares (“ADSs”) between November
20, 2015 and February 6, 2017, both dates inclusive (the “Class
Period”), or ADSs or Warrants pursuant or traceable to Kitov’s
Initial Public Offering, dated November 20, 2015, or Secondary
Public Offering, dated June 28, 2016, your rights may be affected
by this Settlement, including the release and extinguishment of
claims you may possess relating to your ownership interest in Kitov
ADSs or warrants. If you have not received a detailed Notice Of
Proposed Settlement Of Class Action, Motion For Attorneys’ Fees And
Expenses, And Settlement Fairness Hearing (“Notice”) and a copy of
the Proof of Claim and Release Form, you may obtain copies by
visiting http://www.strategicclaims.net/ or by contacting the
Claims Administrator toll-free at (866) 274-4004 or at
info@strategicclaims.net. If you are a member of the Settlement
Class, in order to share in the distribution of the Net Settlement
Fund, you must submit a Proof of Claim and Release Form to the
Claims Administrator at the address listed in the detailed Notice
and postmarked no later than January 3, 2019, establishing that you
are entitled to recovery. Unless you submit a written exclusion
request, you will be bound by any judgment rendered in the Actions
whether or not you make a claim.
If you desire to be excluded from the Settlement
Class, you must submit to the Claims Administrator a request for
exclusion so that it is received no later than January 10, 2019, in
the manner and form explained in the Notice. All members of the
Settlement Class who have not requested exclusion from the
Settlement Class will be bound by any judgment entered in the
Actions pursuant to the Settlement Stipulation.
Any objection to the Settlement, Plan of
Allocation, or Lead Counsel’s request for an award of attorneys’
fees and reimbursement of expenses and award to Lead Plaintiff must
be in the manner and form explained in the detailed Notice and
received no later than January 10, 2019, by each of the
following:
Clerk of the CourtUnited States District
CourtSouthern District of New York500 Pearl StreetNew York, NY
10007 |
Lead CounselJeremy A. LiebermanPOMERANTZ LLP600
Third Avenue, Floor 20New York, NY 10016 |
Counsel For Defendants Aurora Cassirer TROUTMAN
SANDERS LLP875 Third AvenueNew York, NY 10174 |
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If you have any questions about the Settlement, you
may visit http://www.strategicclaims.net/ or write to Lead Counsel
at the above address. PLEASE DO NOT CONTACT THE COURT OR
THE CLERK’S OFFICE REGARDING THIS NOTICE.
Dated: September 19,
2018 |
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_______________________________ |
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BY ORDER OF THE UNITED
STATESDISTRICT COURT FOR THE SOUTHERNDISTRICT OF NEW YORK |
Contact:Jeremy A. LiebermanPomerantz LLP(212) 661-1100
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