This official website is maintained by the Claims Administrator under the supervision of Lead Counsel for the members of the Settlement Class in the Action entitled, In Re iAnthus Capital Holdings, Inc. Securities Litigation., No: 1:20-CV-03135-LAK, (the “Settlement”), which is pending in the United States District Court for the Southern District of New York.
***IMPORTANT CASE UPDATE***
On October 25, 2024, settlement checks were mailed to all Authorized Claimants. Please contact the Claims Administrator with any questions regarding your payment or claim.
The information contained on this web page is only a summary of information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement of Class Action; (II) Settlement Hearing; and (III) Motion for an Award of Attorneys’ Fees and Reimbursement of Litigation Expenses (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.
IF YOU PURCHASED OR OTHERWISE ACQUIRED iANTHUS SECURITIES BETWEEN MAY 14, 2018, AND JULY 10, 2020, BOTH DATES INCLUSIVE, PURSUANT TO DOMESTIC
TRANSACTIONS, AND WERE ALLEGEDLY DAMAGED THEREBY, YOU MAY BE A SETTLEMENT CLASS MEMBER.
| YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT | |
|---|---|
| SUBMIT A CLAIM FORM POSTMARKED NO LATER THAN APRIL 17, 2024. | DEADLINE HAS PASSED |
| EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION SO THAT IT IS RECEIVED NO LATER THAN MARCH 20, 2024. | DEADLINE HAS PASSED |
| OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN MARCH 20, 2024. | DEADLINE HAS PASSED |
| ATTEND A HEARING ON APRIL 10, 2024, AT 9:30 A.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN MARCH 20, 2024. | DEADLINE HAS PASSED |
| DO NOTHING | If you are a member of the Settlement Class and you do not submit a valid Claim Form, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Settlement Class, which means that you give up your right to sue about the claims that are resolved by the Settlement, and you will be bound by any judgments or orders entered by the Court in the Action. |
The Settlement Hearing
On May 23, 2024 the Court held a Settlement Hearing to determine whether: (i) the Settlement is fair, reasonable, adequate, and should be approved; (ii) the Plan of Allocation is fair and reasonable and should be approved; and (iii) the application of Lead Counsel for an award of attorneys’ fees and payment of Litigation Expenses is reasonable and should be approved. The Court has since granted Plaintiff’s Motion for Final Approval of the Settlement, Lead Counsel’s Motion for an Award of Attorneys’ Fees and Expenses and an Award to Lead Plaintiff, and approved the Plan of Allocation. The relevant orders can be found in the Court Documents page of this website.
The Settlement Benefits
Pursuant to the Settlement, Defendants have agreed to pay two million, nine-hundred-thousand dollars ($2,900,000.00) in cash. The Settlement Amount will be deposited into an escrow account. The Settlement Amount plus any interest earned thereon is referred to as the “Settlement Fund.” If the Settlement is approved by the Court and the Effective Date occurs, the “Net Settlement Fund” (that is, the Settlement Fund less (a) all federal, state, and/or local taxes (including any interest or penalties thereon) on any income earned by the Settlement Fund, the reasonable costs incurred in connection with determining the amount of and paying taxes owed by the Settlement Fund (including reasonable expenses of tax attorneys and accountants), and all taxes imposed on payments by the Settlement Fund, including withholding taxes; (b) the costs and expenses incurred in connection with providing notice to Settlement Class Members and administering the Settlement on behalf of Settlement Class Members; (c) any Litigation Expenses awarded by the Court; (d) any attorneys’ fees awarded by the Court; and (e) reimbursement of Lead Plaintiff’s time and expenses pursuant to the Private Securities Litigation Reform Act) will be distributed to Settlement Class Members who submit valid Claim Forms, in accordance with the proposed Plan of Allocation or such other plan of allocation as the Court may approve.
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. You may also contact the Claims Administrator or Lead Counsel for further information regarding the Settlement:
Claims Administrator:
iAnthus Securities Litigation
c/o A.B. Data, Ltd.
P.O. Box 173041
Milwaukee, WI 53217
(866) 561-6086
info@iAnthusSecuritiesLitigation.com
Lead Counsel:
POMERANTZ LLP
Jeremy A. Lieberman
Michael Grunfeld
600 Third Avenue, 20th Floor
New York, NY 10016
jalieberman@pomlaw.com
mgrunfeld@pomlaw.com