Block & Leviton LLP Announces a Notice of Pendency and Proposed Settlement of Class Action in the Tomaszewski v. Trevena, Inc., et al

Jun 21, 2021 12:11 PM ET

Legal Newswire POWERED BY LAW.COM

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF PENNSYLVANIA













DR. WILLIAM TOMASZEWSKI, Individually and on Behalf of All Others Similar Situated,


                                                 Plaintiffs,


v.


 


TREVENA, INC., MAXINE GOWEN, and DAVID SOERGEL,


 


                                                 Defendants.



Civil Action No. 2:18-cv-4378-CMR






SUMMARY NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT; SETTLEMENT FAIRNESS HEARING; AND MOTION FOR AN AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES













TO:    



All persons and entities who, during the period between May 2, 2016, and October 8, 2018, inclusive, purchased or otherwise acquired Trevena, Inc. common stock and were injured thereby (the "Settlement Class"):






PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.    


YOU ARE HEREBY NOTIFIED that the Court-appointed Lead Plaintiffs, on behalf of themselves and the Settlement Class, have reached a proposed settlement of the above-captioned litigation (the "Action") for $8,500,000 in cash that, if approved, would resolve all claims in the Action (the "Settlement"). Defendants have denied the claims asserted against them and have agreed to the Settlement solely to eliminate the burden and expense of continued litigation.


YOU ARE HEREBY FURTHER NOTIFIED that the Action has been preliminarily certified as a class action and that, pursuant to an Order of the Honorable Cynthia M. Rufe in the United States District Court for the Eastern District of Pennsylvania (the "Court") dated May 3, 2021, a hearing will be held on August 2, 2021, at 10:30 a.m. (the "Settlement Hearing"), before Judge Rufe at the United States District Court for the Eastern District of Pennsylvania, 601 Market Street, Philadelphia, PA 19106, Courtroom 12-A, to determine: (a) whether the proposed Settlement on the terms and conditions provided for in the Stipulation is fair, reasonable, and adequate to the Settlement Class, and should be approved by the Court; (b) whether a judgment should be entered dismissing the Action with prejudice against the Defendants; (c) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (d) whether Lead Counsel's motion for attorneys' fees and reimbursement of expenses should be approved.


If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. The Notice and Proof of Claim and Release form ("Claim Form") can be downloaded from the website maintained by the Claims Administrator, www.TrevenaSecuritiesSettlement.com. You may also obtain copies of the Notice and Claim Form by contacting the Claims Administrator at Trevena Securities Litigation Settlement, c/o A.B. Data, Ltd., P.O. Box 173133, Milwaukee, WI 53217, (877) 777-9635.


If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked no later than September 27, 2021. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement, but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.


If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than July 12, 2021, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.


Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and reimbursement of expenses, must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than July 12, 2021, in accordance with the instructions set forth in the Notice.


Please do not contact the Court, the Clerk's office, Trevena, or its counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.


Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:


Block & Leviton LLP
Attn: Jacob A. Walker
260 Franklin Street, Suite 1860
Boston, MA 02110
Telephone: (617) 398-5617
Email: [email protected]


Requests for the Notice and Claim Form should be made to:


Trevena Securities Litigation Settlement
c/o A.B. Data, Ltd.
P.O. Box 173133
Milwaukee, WI 53217
(877) 777-9635
www.TrevenaSecuritiesSettlement.com


By Order of the Court


Tags: Wire, Classaction-Marketing, Legal Newswire, United States, English