Nabriva Securities Litigation

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Nabriva Securities Litigation
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The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency and Proposed Settlement of Class Action, (the “Notice”), which you can access by clicking here. Since this website is just a summary, you should review the Notice for additional information.

If you are a Settlement Class Member, your legal rights will be affected by this Settlement whether you act or do not act.

Please read the Notice carefully.

ALL PERSONS AND ENTITIES THAT PURCHASED OR OTHERWISE ACQUIRED NABRIVA THERAPEUTICS PLC’S (“NABRIVA”) COMMON STOCK DURING THE PERIOD FROM JANUARY 4, 2019 THROUGH APRIL 30, 2019, BOTH DATES INCLUSIVE (THE CLASS PERIOD), AND WHO WERE DAMAGED THEREBY (THE “CLASS”).

YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:

 SUBMIT A CLAIM FORM BY                 APRIL 30, 2021             

The only way to get a payment.  See Question 8 in the Notice for details.

EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS BY APRIL 30, 2021

Get no payment.  This is the only option that, assuming your claim is timely brought, might allow you to ever bring or be part of any other lawsuit against Defendants and/or the other Released Defendant Parties concerning the Released Claims.  See Question 11 in the Notice for details.

OBJECT BY APRIL 30, 2021

Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or Co-Lead Counsel’s Fee and Expense Application.  If you object, you will still be a member of the Settlement Class.  See Question 16 in the Notice for details.

 PARTICIPATE IN A HEARING ON                 MAY 14, 2021 AT 10:30 A.M. AND FILE A   NOTICE TO APPEAR BY MAY 7, 2021

Ask to speak in Court at the Settlement Hearing about the Settlement. See Question 20 in the Notice for details. 

 

  DO NOTHING

Get no payment.  Give up rights.


The Final Approval Hearing

The Final Approval Hearing will be held before the Honorable Victor Marrero on May 14, 2021, at 10:30 a.m., in Courtroom 15 B of the United States District Court for the Southern District of New York, 500 Pearl Street, New York, NY 10007, to determine: (1) whether the proposed Settlement of the Class’s claims against the Defendants for $3,000,000 should be approved as fair, reasonable, and adequate; (2) whether the proposed Plan of Allocation is fair, just, reasonable, and adequate; (3) whether the Court should permanently enjoin the assertion of any claims that arise from or relate to the subject matter of the Action; (4) whether the Action should be dismissed with prejudice against the Defendants as set forth in the Stipulation of Settlement filed with the Court; (5) whether the application by Co-Lead Counsel for an award of attorneys’ fees and expenses should be approved; and (6) whether the application for a reimbursement award to Lead Plaintiff should be granted.  At the Court’s discretion, the Final Approval Hearing may be telephonic, in which case call-in details will be displayed by the Settlement Administrator on this website.

What is this case about?

Lead Plaintiff’s Second Amended Complaint (“SAC”) alleges that Defendants Nabriva, Ted Schroeder, Gary Sender and Jennifer Schranz (collectively, “Defendants”) purportedly made false and misleading statements and failed to disclose material facts concerning the likelihood of the United States Food and Drug Administration’s approval of the New Drug Application (“NDA”) for an injectable drug called CONTEPO™. The SAC alleges that the price of Nabriva common stock was artificially inflated as a result of Defendants’ allegedly false and misleading statements, and that the price of Nabriva common stock declined when it was revealed that the FDA would not approve the NDA for CONTEPO.

On October 21, 2020, the Parties participated in an extended mediation session conducted by Michelle Yoshida, Esq.  At the close of the mediation, the mediator made a proposal to all Parties to settle this Action for the Settlement Amount, which the Parties accepted. 

Co-Lead Counsel continue to believe that the claims against the Defendants in this Action have merit and that the evidence would support their claims at trial.  However, they acknowledge the expense and length of continued proceedings, trial, and appeals, and have considered the uncertain outcome and the risk of any litigation, especially complex actions like this.  They are also mindful of the defenses asserted by Defendants, and the risks inherent to certifying a class action. Co-Lead Counsel believe that the Settlement set forth in the Stipulation confers a meaningful benefit upon the Class, and based on the evaluation and recommendation of Co-Lead Counsel, Lead Plaintiff has determined that the Settlement is in the best interests of the Class.

The Settlement Benefits  

The $3,000,000 Settlement Amount, together with any interest earned thereon and/or proceeds thereof shall be the Gross Settlement Fund.  The Gross Settlement Fund less taxes, approved costs, fees, and expenses (the “Net Settlement Fund”) shall be distributed to members of the Class who submit valid Proofs of Claim (“Authorized Claimants”).

Further Information

This website and the Notice summarize the Settlement.  For more details regarding the Settlement please reference the Settlement Agreement, or other documents filed in the case under the “Court Documents” link on the left.  You may also contact the Claims Administrator or Lead Counsel for further information regarding the Settlement:

Claims Administrator:

Nabriva Securities Litigation 

c/o A.B. Data, Ltd.

PO Box 173091

Milwaukee, WI  53217

(800) 918-9014

info@NabrivaSecuritiesLitigation.com


Co-Lead Counsel:

Pomerantz LLP

Omar Jafri, Esq.

10 South La Salle Street

Suite 3505

Chicago, IL  60603 

(312) 377-1181


Holzer & Holzer, LLC

Corey D. Holzer

Perimeter Center Parkway

Suite 1010

Atlanta, GA 30346

(770) 392-0090

 

 
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