Intersect Securities Litigation

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Intersect Securities Litigation
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ATTENTION ALL SETTLEMENT CLASS MEMBERS:  The Settlement Hearing scheduled for November 5, 2021 at 9:00 a.m. will be held by telephonically.  If you wish to attend you may do so by using the following dial-in information:

 1-888-684-8852

Access Code: 8583698


The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency of Class Action (the “Notice”), which you can access by clicking here.  Because this website is just a summary, you should review the Notice for additional details.

Court-appointed Lead Plaintiff Avi Yaron (“Lead Plaintiff”), on behalf of himself and the Settlement Class (as defined in ¶ 25 in the Notice), has reached a proposed settlement of the action for $1,900,000 in cash that, if approved, will resolve all claims in the action (the “Settlement”).

If you are a member of the Settlement Class, you are subject to the Settlement, unless you timely request to be excluded.  The Settlement Class consists of: 

all Persons and entities who or which purchased or otherwise acquired publicly traded Intersect common stock between February 27, 2018 and August 1, 2019, inclusive, and were damaged thereby.

Excluded from the Settlement Class are: (1) Persons who suffered no compensable losses; and (2) (a) Defendants; (b) the legal representatives, heirs, successors, assigns, and members of the Immediate Families of the Individual Defendants; (c) the parents, subsidiaries, assigns, successors, predecessors, and affiliates of Intersect; (d) any Persons who served as Officers and/or directors of Intersect during the Settlement Class Period; (e) any entity in which any of the foregoing (a)-(d) excluded Persons have or had a majority ownership interest during the Settlement Class Period; (f) any trust of which any Individual Defendant is the settlor or which is for the benefit of any Individual Defendant and/or member(s) of his or her Immediate Family; and (g) Defendants’ liability insurance carriers.  Also excluded from the Settlement Class are any Persons or entities who or which timely and validly exclude themselves by submitting a request for exclusion in accordance with the requirements set forth in this Notice.

Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found in the menu on the left of this page.

Payments to eligible claimants will be made only if the Court approves the Settlement and a Plan of Allocation, only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.

Please read the Notice carefully.  If you have questions, you may call the Intersect Securities Litigation Help Line at 877-777-9611 or email info@IntersectSecuritiesLitigation.com. 


YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:

SUBMIT A CLAIM FORM ONLINE OR POSTMARKED NO LATER THAN NOVEMBER 18, 2021.

This is the only way to be eligible to receive a payment from the Settlement Fund.  If you are a Settlement Class Member and you remain in the Settlement Class, you will be bound by the Settlement as approved by the Court and you will give up any Released Plaintiff’s Claims (defined in ¶ 34 in the Notice) that you have against Defendants and the other Defendants’ Releasees (defined in ¶ 36 in the Notice), so it is in your interest to submit a Claim Form.

EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION SO THAT IT IS RECEIVED NO LATER THAN OCTOBER 1, 2021.

If you exclude yourself from the Settlement Class, you will not be eligible to receive any payment from the Settlement Fund and will not be bound by the terms of the Settlement or any judgments or orders entered by the Court in the Action.  This is the only option that allows you ever to be part of any other lawsuit against any of the Defendants or the other Defendants’ Releasees concerning the Released Plaintiff’s Claims. 

OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN OCTOBER 1, 2021.

If you do not like the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and reimbursement of Litigation Expenses, you may write to the Court and explain why you do not like them.  You cannot object to the Settlement, the Plan of Allocation, or the fee and expense request unless you are a Settlement Class Member and do not exclude yourself from the Settlement Class. 

GO TO A HEARING ON NOVEMBER 5, 2021, AT 9:00 A.M.(PST), AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN OCTOBER 1, 2021.

Filing a written objection and notice of intention to appear by October 1, 2021, allows you to speak in Court, at the discretion of the Court, about the fairness of the proposed Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and reimbursement of Litigation Expenses.  If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection.

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.




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