SAN FRANCISCO, Nov. 18, 2024 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court for the Northern District of California has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of Caribou Biosciences, Inc. (NASDAQ: CRBU):
SUMMARY NOTICE OF PENDENCY
AND PROPOSED SETTLEMENT OF CLASS ACTION
TO: ALL PERSONS WHO PURCHASED CARIBOU BIOSCIENCES, INC. (“CARIBOU”) COMMON STOCK BETWEEN JULY 23, 2021 AND JULY 13, 2023, BOTH DATES INCLUSIVE
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of California, that a hearing will be held on February 18, 2025 at 1:30 p.m. before the Honorable Rita F. Lin, United States District Judge for the Northern District of California, San Francisco Courthouse, 450 Golden Gate Avenue, Courtroom 15, 18th Floor, San Francisco, CA 94102, or by telephonic or videoconference means as directed by the Court, for the purpose of determining:
(1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $3,900,000 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 by Lead Counsel for an award of attorneys’ fees of up to 28% of the Settlement Amount (or $1,092,000), reimbursement of expenses of no more than $60,000, and a Compensatory Award of reasonable costs and expenses (including lost wages) directly relating to their representation of the Settlement Class of no more than $7,500 total for Plaintiffs should be approved; and
(4) whether the Action should be dismissed with prejudice as set forth in the Amended Stipulation of Settlement, dated October 1, 2024 (“Stipulation”).
Persons may access the Settlement Hearing via videoconference at https://cand.uscourts.gov/judges/lin-rita-f-rfl/.
If you purchased Caribou common stock between July 23, 2021 and July 13, 2023, both dates inclusive (“Settlement Class Period”), or if you purchased Caribou common stock pursuant and/or traceable to Caribou’s July 2021 initial public offering, your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Caribou common stock. If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action (“Long Notice”) and a copy of the Proof of Claim and Release Form (“Proof of Claim”), you may obtain copies by contacting the Claims Administrator at: Caribou Biosciences, Inc. Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Ste. 205, Media, PA 19063, Telephone: (866) 274-4004, Facsimile: (610) 565-7985, info@strategicclaims.net. You may also download copies of the Long Notice and submit your Proof of Claim online at www.strategicclaims.net/Caribou. 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 properly completed Proof of Claim electronically or sent no later than January 17, 2025 to the Claims Administrator, establishing that you are entitled to recovery.
If you are a Settlement Class Member and desire to be excluded from the Settlement Class, you must submit a request for exclusion, in the manner and form explained in the Long Notice, to the Claims Administrator so that it is received no later than January 28, 2025. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim.
Any objection to the Settlement, Plan of Allocation, Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses, or the Compensatory Award to Plaintiffs must be in the manner and form explained in the Long Notice and received no later than January 28, 2025, by the Clerk of the Court, U.S. District Court, Northern District of California, 450 Golden Gate Avenue, 16th Floor, San Francisco, California 94102.
If you have any questions about the Settlement, you may call or write to Lead Counsel:
THE ROSEN LAW FIRM, P.A.
Sara Fuks
275 Madison Avenue, 40th Floor
New York, NY 10016
212-686-1060
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.
| DATED: OCTOBER 15, 2024 | ___________________________________ |
| BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA |
