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Institutional Electronic Filing |
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Institutional Electronic Filing |
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How to Report a Change of Address |
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How to Report a Change of Address |
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How to Report a Change of Name |
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How to Report a Change of Name |
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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:
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SUBMIT A CLAIM FORM ONLINE OR POSTMARKED NO LATER
THAN NOVEMBER 18, 2021.
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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.
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EXCLUDE
YOURSELF FROM THE SETTLEMENT CLASS BY SUBMITTING A WRITTEN REQUEST FOR
EXCLUSION SO THAT IT IS RECEIVED NO
LATER THAN OCTOBER 1, 2021.
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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.
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OBJECT TO THE
SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN OCTOBER 1,
2021.
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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.
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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.
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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.
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DO NOTHING.
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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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