Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of Revance Therapeutics, Inc. Securities Litigation

SAN JOSE, Calif., Feb. 10, 2017 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Revance Therapeutics, Inc. Securities Litigation:  

SUPERIOR COURT OF THE STATE OF CALIFORNIA
COUNTY OF SANTA CLARA

SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION

TO:     ALL PERSONS OR ENTITIES ("PERSONS") THAT PURCHASED OR OTHERWISE ACQUIRED REVANCE THERAPEUTICS, INC. ("REVANCE" OR THE "COMPANY") COMMON STOCK DURING THE PERIOD BEGINNING ON JUNE 19, 2014 AND ENDING ON MAY 1, 2015, AND PURSUANT AND/OR TRACEABLE TO THE REGISTRATION STATEMENT AND PROSPECTUS FOR THE COMPANY'S JUNE 19, 2014 PUBLIC OFFERING (THE "CLASS")

THIS NOTICE WAS AUTHORIZED BY THE COURT.  IT IS NOT A LAWYER SOLICITATION.  PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED that a hearing will be held on May 19, 2017, at 9:00 a.m., before the Honorable Brian C. Walsh at the Superior Court of California, County of Santa Clara, 191 North First Street, San Jose, CA 95113, to determine whether: (1) the proposed Settlement as set forth in the Stipulation of Settlement dated October 31, 2016 ("Stipulation") of the above-captioned action ("Litigation") for $6,400,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) the Plan of Allocation should be approved by the Court as fair, reasonable, and adequate; and (3) to award Plaintiff's Counsel attorneys' fees and expenses out of the Settlement Fund (as defined in the Notice of Proposed Settlement of Class Action ("Notice"), which is discussed below).

This Litigation is a securities class action brought on behalf of those Persons who purchased or otherwise acquired the common stock of Revance pursuant and/or traceable to the Registration Statement and Prospectus ("Registration Statement") issued in connection with Revance's June 19, 2014 public offering ("Offering") during the period beginning on June 19, 2014 and ending on May 1, 2015, against Revance and certain of its executives and the Underwriters of the Offering for allegedly misstating and omitting material facts from the Registration Statement filed with the U.S. Securities and Exchange Commission ("SEC") in connection with the Offering.  Defendants deny all of Plaintiff's allegations.

IF YOU PURCHASED OR OTHERWISE ACQUIRED REVANCE COMMON STOCK DURING THE PERIOD BEGINNING ON JUNE 19, 2014 AND ENDING ON MAY 1, 2015, AND PURSUANT AND/OR TRACEABLE TO THE REGISTRATION STATEMENT FILED WITH THE SEC IN CONNECTION WITH THE COMPANY'S JUNE 19, 2014 OFFERING, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.

To share in the distribution of the Net Settlement Fund, you must establish your rights by submitting a Proof of Claim and Release ("Proof of Claim") by mail (postmarked no later than June 5, 2017) or submitted electronically no later than June 5, 2017.  Your failure to submit your Proof of Claim by June 5, 2017, will subject your claim to possible rejection and may preclude you from receiving any of the recovery in connection with the Settlement of this Litigation.  If you are a Member of the Class and do not request exclusion, you will be bound by the Settlement and any judgment and release entered in the Litigation, including, but not limited to, the Judgment, whether or not you submit a Proof of Claim.  Plaintiff's Counsel represent you and other Members of the Class.  If you want to be represented by your own lawyer, you may hire one at your own expense.

If you have not received a copy of the Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement or exclude yourself from the Class), and a Proof of Claim, you may obtain these documents, as well as a copy of the Stipulation (which, among other things, contains definitions for the defined terms used in this Summary Notice) and other Settlement documents, online at www.revancesecuritiessettlement.com, or by writing to:

Revance Securities Litigation
Claims Administrator
c/o Gilardi & Co. LLC
P.O. Box 30249
College Station, TX 77842-3249
Phone:  1-888-279-2322
www.revancesecuritiessettlement.com

Inquiries may also be made to a representative of Lead Counsel:

ROBBINS GELLER RUDMAN
& DOWD LLP
Shareholder Relations
Rick Nelson
655 West Broadway, Suite 1900
San Diego, CA 92101
Phone: 1-800-449-4900

Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court.

IF YOU DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION SUCH THAT IT IS POSTMARKED NO LATER THAN APRIL 19, 2017, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.  ALL MEMBERS OF THE CLASS WHO HAVE NOT REQUESTED EXCLUSION FROM THE CLASS WILL BE BOUND BY THE SETTLEMENT ENTERED IN THE LITIGATION EVEN IF THEY DO NOT FILE A TIMELY PROOF OF CLAIM.

IF YOU ARE A CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF ALLOCATION, AND/OR THE REQUEST BY PLAINTIFF'S COUNSEL FOR AN AWARD OF ATTORNEYS' FEES AND EXPENSES.  ANY WRITTEN OBJECTIONS MAY BE FILED WITH THE COURT AND SENT TO LEAD COUNSEL PRIOR TO THE SETTLEMENT FAIRNESS HEARING.  HOWEVER, IT IS NOT NECESSARY TO FILE A WRITTEN OBJECTION IN ORDER TO APPEAR AT THE HEARING TO PRESENT YOUR OBJECTION TO THE COURT.

SOURCE Robbins Geller Rudman & Dowd LLP