Welcome to the Regulus Securities Litigation Settlement Website.
The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency and Proposed Settlement of Class Action (the “Notice”). Because this website is just a summary, you should review the Notice for additional details.
Plaintiffs Have Reached a Proposed Settlement, Subject to Court Approval
The Court-appointed Lead Plaintiffs, on behalf of themselves and the Settlement Class, have reached a proposed settlement of this action, captioned In Re Regulus Therapeutics Inc. Securities Litigation, No. 17-cv-00182-BTM-RBB (S.D. Cal.) (the “Action”), for a cash payment of $900,000 (the “Settlement”). The Settlement, if approved by the Court, will resolve all claims in this Action.
Your Rights in the Proposed Settlement
If you are a member of the Settlement Class, your rights will be affected and you may be eligible for a payment from the proceeds of the Settlement, if it receives final Court approval. The Settlement Class certified by the Court includes all persons or entities who purchased or otherwise acquired Regulus common stock between February 17, 2016 and June 11, 2017, inclusive, except those persons or entities that are excluded, as described below.
You are not a Settlement Class Member if you are: (i) Defendants; (ii) members of the immediate families of Defendants; (iii) any person who is or was an officer or director of Regulus during or after the Class Period; (iv) any entity in which any of the Defendants had or has a controlling interest; and (v) any legal representatives, agents, affiliates, heirs, beneficiaries, successors-in-interest, or assigns of any such excluded party in their capacity as such. Also excluded from the Settlement Class is any person or entity who validly requests exclusion pursuant to 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 at the top of this page.
If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form postmarked no later than September 14, 2020.
Payments to eligible claimants will be made only after the Settlement and a Plan of Allocation are approved by the Court and any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
IMPORTANT DATES AND DEADLINES
| Date | Deadline |
|---|---|
| September 14, 2020. | Claim Filing Deadline: Claim Forms must be postmarked no later than September 14, 2020 to be eligible for a payment from the Settlement. |
| September 16, 2020. | Exclusion Deadline: If you do not want a payment from this settlement, but you want to keep the right to sue or continue to sue any of the Defendants on your own about the same legal issues in this case, then you must take steps to get out of the Settlement Class. This is called excluding yourself or is sometimes referred to as opting out of the Settlement Class. Requests to be excluded from the proposed Settlement must be received no later than September 16, 2020, in accordance with the instructions in the Notice. |
| September 30, 2020. | Objection Deadline: Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Plaintiffs’ counsel’s request for an award of attorneys’ fees and expenses, must be received no later than September 30, 2020, in accordance with the instructions in the Notice. |
| October 21, 2020 at 10:30 a.m. | The Final Approval Hearing: A hearing will be held on October 21, 2020, at 10:30 a.m., before the Honorable Barry Ted Moskowitz, United States District Judge, at the United States District Court for the Southern District of California, James M. Carter and Judith N. Keep United States Courthouse, 333 West Broadway, Courtroom 15B- 15th Floor, San Diego, CA 92101.
The Hearing will be held by the Court for the purpose of determining: (1) whether the proposed settlement of the Litigation for the combined sum of $900,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) whether the Settlement Class should be certified for purposes of the Settlement and whether Lead Plaintiffs and Lead Counsel should be certified as class representative and class counsel for the purposes of the Settlement; (3) whether, thereafter, the Litigation should be dismissed with prejudice as set forth in the Stipulation of Settlement dated as of February 6, 2020 (“Stipulation”); (4) whether the Plan of Allocation of settlement proceeds is fair, reasonable and adequate and therefore should be approved; and (5) whether the application of Lead Counsel for the payment of attorneys’ fees and reimbursement of expenses incurred in connection with the Litigation should be approved. |