Pomerantz LLP, Hagens Berman Sobol Shapiro LLP, and The Rosen Law Firm, P.A. Announce Proposed Securities Class Action Settlement on Behalf of Purchasers of Canopy Growth Corporation publicly-traded securities – CGC
NEWARK, N.J., March 14, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP, Hagens Sobol Shapiro LLP, and The Rosen Law Firm, P.A. announce that the United States District Court for the District of New Jersey has approved the following announcement of a proposed securities class action settlement that would benefit purchasers of Canopy Growth Corporation publicly-traded securities (NASDAQ: CGC):
SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION AND FINAL APPROVAL HEARING
To: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE PUBLICLY TRADED SECURITIES OF CANOPY GROWTH CORPORATION (“CANOPY”) BETWEEN JUNE 27, 2018 AND MAY 28, 2020, BOTH DATES INCLUSIVE
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the District of New Jersey that a hearing will be held on June 7, 2022, at 2:30 p.m. before the Honorable Kevin McNulty, United States District Judge of the District of New Jersey, Frank Lautenberg Post Office & U.S. Courthouse, 2 Federal Square, Courtroom PO 04, Newark, New Jersey 07102, for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $13,000,000 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Lead Counsel for an award of attorneys’ fees, reimbursement of expenses, and Compensatory Awards to Lead Plaintiffs should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation of Settlement dated February 4, 2022.
If you purchased or otherwise acquired Canopy Securities between June 27, 2018 and May 28, 2020, both dates inclusive (“Settlement Class Period”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Canopy securities. If you have not received a detailed Notice of Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release Form (“Proof of Claim”), you may obtain copies by contacting the Claims Administrator at: Canopy Growth Corp. Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Ste. 205, Media, PA 19063, Telephone: (866) 274-4004, Facsimile: (610) 565-7985, or email: [email protected]. You can also download copies of the Notice and submit your Proof of Claim online at www.strategicclaims.net/Canopy/. If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a properly completed Proof of Claim electronically or postmarked no later than 11:59 EST on June 14, 2022, or electronically no later than 11:59 p.m. EST on June 14, 2022 to the Claims Administrator, establishing that you are entitled to recovery.
If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received no later than May 17, 2022, in the manner and form explained in the Notice. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim.
Any objection to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and awards to Lead Plaintiffs must be in the manner and form explained in the detailed Notice and filed with the Court no later than May 17, 2022. Please also provide copies of objections to Lead Counsel and Counsel for Defendants listed below. If you have any questions about the Settlement, you may call or write to Lead Counsel listed below.
| Clerk of the Court United States District Court District of New Jersey Martin Luther King Building & U.S. Courthouse 50 Walnut Street Room 4015 Newark, NJ 07101 | Lead Counsel Brian Calandra POMERANTZ LLP 600 Third Avenue, Floor 20 New York, NY 10016 Telephone: (212) 661-1100 Facsimile: (917) 463-1044 Email: [email protected] Shayne C. Stevenson Gonen Haklay | Counsel For Defendants Andrew Muscato Jay B. Kasner Susan L. Saltzstein SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP One Manhattan West New York, NY 10001 |
DO NOT TELEPHONE THE COURT OR THE COURT CLERK’S OFFICE TO INQUIRE ABOUT THIS SETTLEMENT OR THE CLAIMS PROCESS.
Dated: February 7, 2022
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
DISTRICT OF NEW JERSEY
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