Scott+Scott Attorneys at Law LLP Announces a Notice of Proposed Settlement of Class Action for the Teligent, Inc. Securities Class Action
PHILADELPHIA--(BUSINESS WIRE)--Aug 19, 2021--
The following statement is being issued by Scott+Scott Attorneys at Law LLP regarding the Teligent, Inc. Class Action Settlement.
TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR ACQUIRED THE COMMON STOCK OF TELIGENT, INC. (“TELIGENT” OR THE “COMPANY”) DURING THE PERIOD FROM March 7, 2017 in the aftermarket to November 6, 2017 at the close of regular trading, INCLUSIVE.
THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.
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 November 12, 2021, at 10:30 a.m. before the Honorable Victor Marrero, United States District Judge, at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007, for the purpose of determining: (1) whether the proposed Settlement of the above-captioned Action, as set forth in the settlement agreement reached between the parties, consisting of Six Million Dollars ($6,000,000) in cash, should be approved as fair, reasonable, and adequate to the Members of the Class; (2) whether the release by Class Members of claims as set forth in the settlement agreement should be authorized; (3) whether the proposed plan to distribute the settlement proceeds (the “Plan of Allocation”) is fair, reasonable, and adequate; (4) whether the application by Plaintiff’s counsel for an award of attorneys’ fees and expenses and any award to Plaintiff pursuant to 15 U.S.C. §78u-4(a)(4) should be approved; and (5) whether the Judgment, in the form attached to the settlement agreement, should be entered. The Court may change the date of the Settlement Hearing without providing another notice. You do NOT need to attend the Settlement Hearing in order to receive a distribution from the Net Settlement Fund.
IF YOU PURCHASED OR ACQUIRED ANY OF THE COMMON STOCK OF TELIGENT DURING THE PERIOD FROM March 7, 2017 IN THE AFTERMARKET to November 6, 2017 at the close of regular trading, INCLUSIVE, YOUR RIGHTS WILL BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.
To share in the distribution of the Net Settlement Fund, you must establish your rights by submitting a Proof of Claim and Release (“Proof of Claim”) by mail (postmarked no later than December 7, 2021 ) or submitted electronically at www.teligentsecuritiessettlement.com no later than December 7, 2021. Your failure to submit your Proof of Claim by December 7, 2021, will subject your claim to possible rejection and may preclude you from receiving any of the recovery in connection with the Settlement of this Action. If you are a Member of the Class and do not request exclusion, you will be bound by the Settlement and any judgment and release entered in the Action, including, but not limited to, the Judgment, whether or not you submit a Proof of Claim. Plaintiff’s Counsel represent you and other Members of the Class. If you want to be represented by your own lawyer, you may hire one at your own expense.
If you have not received a copy of the Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement or exclude yourself from the Class), or a Proof of Claim form, you may obtain these documents, as well as a copy of the Stipulation (which, among other things, contains definitions for the defined terms used in this Summary Notice) and other Settlement documents, online at www.teligentsecuritiessettlement.com, or by writing to:
Teligent Securities Settlement
P.O. Box 5324
New York, NY 10150-5324
Inquiries may also be made to a representative of Plaintiff’s Counsel at:
SCOTT+SCOTT ATTORNEYS AT LAW LLP
Jeffrey P. Jacobson
230 Park Ave., Fl. 17
New York, NY 10169
Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court.
IF YOU DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION SUCH THAT IT IS POSTMARKED NO LATER THAN OCTOBER 22, 2021, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE. ALL MEMBERS OF THE CLASS WHO HAVE NOT REQUESTED EXCLUSION FROM THE CLASS WILL BE BOUND BY THE SETTLEMENT ENTERED IN THE LITIGATION EVEN IF THEY DO NOT FILE A TIMELY PROOF OF CLAIM.
IF YOU ARE A CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF ALLOCATION, THE REQUEST BY PLAINTIFF’S COUNSEL FOR AN AWARD OF ATTORNEYS’ FEES, COSTS, AND EXPENSES AND/OR THE APPLICATION FOR PAYMENT TO PLAINTIFF FOR THEIR TIME AND EXPENSES. ANY WRITTEN OBJECTIONS MUST BE SENT TO THE COURT NO LATER THAN OCTOBER 22, 2021, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE. IF YOU FAIL TO OBJECT IN THE MANNER AND FORM EXPLAINED IN THE NOTICE YOU WILL BE DEEMED TO HAVE WAIVED ANY OBJECTION AND WILL NOT BE ABLE TO APPEAR SEPARATELY AT THE SETTLEMENT HEARING OR MAKE ANY OBJECTION TO THE SETTLEMENT, THE PLAN OF ALLOCATION, THE REQUEST BY PLAINTIFF’S COUNSEL FOR AN AWARD OF ATTORNEYS’ FEES, COSTS, AND EXPENSES AND/OR THE APPLICATION FOR PAYMENT TO PLAINTIFF FOR THEIR TIME AND EXPENSES.
This is only a summary. For details, including information on objecting or filing an opt-out, or to file a claim, visit the settlement website, www.teligentsecuritiessettlement.com, or call the Claims Administrator at 1833-460-1725.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE ABOUT THIS NOTICE.
ORDER DATED: July 20, 2021
View source version on businesswire.com:https://www.businesswire.com/news/home/20210819005002/en/
Jeffrey P. Jacobson, (646) 992-4756
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: Kroll Business Services on behalf of Scott+Scott Attorneys at Law
Copyright Business Wire 2021.
PUB: 08/19/2021 09:16 AM/DISC: 08/19/2021 09:16 AM