The proposed Settlement is for the benefit of former shareholders of Ambry Genetics Corporation (“Ambry”) who sold some or all of their shares back to Ambry as a part of a 2015 repurchase program, which consisted of two Tender Offers announced in June 2015 and July 2015 (the “Tender Offers”). If you received a Notice of Proposed Class Action Settlement your legal rights are affected whether you act or do not act. Read the Notice of Proposed Class Action Settlement immediately.
What is this Lawsuit About?
The Settlement resolves class action litigation over whether Ambry made false and misleading statements or omissions to its shareholders in connection with its offers to repurchase its shares in June and July of 2015. The litigation was initially filed by Steven and Rebecca Malin on behalf of the Certified Class (collectively, “Plaintiffs”).
Who is included?
The persons eligible to participate in the Settlement are all former Ambry shareholders who sold some or all of their shares back to Ambry as a part of the 2015 repurchase program, which consisted of two Tender Offers announced in June 2015 and July 2015.
What does the Settlement provide?
The total amount of the proposed Settlement is $8,750,000 (the “Settlement Fund”). Your recovery from the Settlement Fund, if any, will depend on the number of shares that you sold in the Tender Offers, the number of former shareholders that elect to opt-out of the Settlement, the cost of claims administration and the amount of the attorneys’ fees and other costs and expenses approved by the Court. Assuming that all eligible members of the class share in the Settlement, the estimated average recovery will be approximately $83.56 per share before deduction of Court-approved fees and expenses.