IF YOU PURCHASED OR OTHERWISE ACQUIRED GALENA BIOPHARMA, INC. COMMON STOCK DURING THE PERIOD NOVEMBER 3, 2014, THROUGH NOVEMBER 9, 2015, INCLUSIVE (THE “CLASS PERIOD”), AND WERE DAMAGED THEREBY, YOU COULD RECEIVE A PAYMENT FROM A CLASS ACTION SETTLEMENT. CERTAIN PERSONS ARE EXCLUDED FROM THE CLASS AS SET FORTH IN THE LONG NOTICE.
Subject to Court approval, Plaintiffs, on behalf of themselves and the Class, have agreed to settle the Action in exchange for a settlement payment of $1,600,000.00 in cash (the “Settlement Amount”) to be deposited into an escrow account. The Net Settlement Fund (i.e., the Settlement Amount plus any and all interest earned thereon (the “Settlement Fund”) less (a) any Taxes, (b) any Notice and Administration Costs, (c) any Litigation Expenses awarded by the Court, and (d) any attorneys’ fees awarded by the Court) will be distributed in accordance with a plan of allocation that is approved by the Court, which will determine how the Net Settlement Fund shall be allocated among members of the Class. The proposed plan of allocation is included in the Long Notice.
Your legal rights are affected whether you act or don’t act. Read the Long Notice carefully.