MIAMI, May 22, 2023 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court for the Southern District of Florida has approved the following announcement of a proposed securities class action settlement that would benefit purchasers of Longeveron Inc. Class A Common Stock, Inc. (NASDAQ: LGVN):
SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT
TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED LONGEVERON INC. CLASS A COMMON STOCK: (1) PURSUANT AND/OR TRACEABLE TO THE FEBRUARY 12, 2021 INITIAL PUBLIC OFFERING; AND/OR (2) FROM FEBRUARY 12, 2021 THROUGH AUGUST 12, 2021, INCLUSIVE.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of Florida, that a hearing will be held, in person or virtually, on October 10, 2023, at 3:00 p.m. before the Honorable Roy K. Altman, United States District Judge of the Southern District of Florida, 400 North Miami Avenue, Courtroom #11-2, Miami, FL 33128, for the purpose of determining whether: (1) the proposed settlement of the claims in the above-captioned Action in the amount of $1,397,500 should be approved by the Court as fair, reasonable, and adequate; (2) the proposed plan to distribute the settlement proceeds is fair, reasonable, and adequate; (3) the application of Class Counsel for an award of attorneys’ fees in the amount of $465,833, representing one third of the Settlement Amount, reimbursement of expenses in the amount of $27,035 and costs and expenses of $1,500 to Class Representative, should be approved; and (4) this Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement dated April 28, 2023 (the “Settlement Stipulation”). Plaintiff’s Fee and Expense Application, with details about that application, can be found on the settlement website: www.strategicclaims.net/Longeveron.
If you purchased or otherwise acquired Longeveron Inc. (“Longeveron”) Class A common stock: (1) pursuant and/or traceable to the February 12, 2021 initial public offering (the “IPO” or “Offering”); and/or (2) from February 12, 2021 through August 12, 2021, inclusive (the “Settlement Class”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Longeveron Class A common stock. If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release Form, you may obtain copies by writing to or calling Longeveron Inc. Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 205, P.O. Box 230, Media, PA 19063; (Tel) (866)274-4004; (Fax) (610)565-7985; info@strategicclaims.net, or going to the website, www.strategicclaims.net/Longeveron. 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 electronically or postmarked no later than September 8, 2023, establishing that you are entitled to recovery. 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.
If you desire to be excluded from the Settlement Class, you must submit a request for exclusion so that it is received no later than August 25, 2023, in the manner and form explained in the detailed Notice to the Claims Administrator. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Settlement Stipulation.
Any objection to the Settlement, Plan of Allocation, or Class Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and award to Class Representatives must be in the manner and form explained in the detailed Notice and received no later than September 26, 2023, to each of the following:
Clerk of the Court
United States District Court
Southern District of Florida
400 North Miami Avenue
Miami, FL 33128
Laurence M. Rosen, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Class Counsel
Carl Goldfarb, Esq.
Boies Schiller Flexner LLP
401 E. Las Olas Blvd. Suite 1200
Fort Lauderdale, FL, 33301
Counsel for Defendants
If you have any questions about the Settlement, you may call or write to Class Counsel:
Laurence M. Rosen, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Telephone: (212) 686-1060
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.
Dated: May 12, 2023
| BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF FLORIDA |
