Labaton Keller Sucharow LLP and Pomerantz LLP Announce Proposed Settlement of Class Action on Behalf of Purchasers of Novavax, Inc. Publicly Traded Common Stock in Sinnathurai v. Novavax, Inc., et al., No. 8:21-cv-02910-TDC (D. Md.)

GREENBELT, Md., Feb. 20, 2024 /PRNewswire/ -- – Labaton Keller Sucharow LLP and Pomerantz LLP announce that the United States District Court for the District of Maryland has approved the following announcement of a proposed class action settlement that would benefit those who purchased or otherwise acquired Novavax, Inc. publicly traded common stock:

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION AND MOTION FOR ATTORNEYS' FEES AND EXPENSES

To: All persons or entities who or which, during the period from May 11, 2021 through October 19, 2021, inclusive, (the "Class Period") purchased or otherwise acquired the publicly traded common stock of Novavax, Inc. ("Novavax") and were damaged thereby (the "Settlement Class").

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the District of Maryland, that Court-appointed Lead Plaintiffs, on behalf of themselves and all members of the proposed Settlement Class; and Novavax; and Stanley Erck, Gregory Covino, John Trizzino, and Gregory Glenn (collectively, the "Individual Defendants" and, with Novavax, "Defendants"), have reached a proposed settlement of the claims in the above-captioned class action (the "Action") in the amount of $47,000,000 (the "Settlement"). 

A hearing will be held before the Honorable Theodore D. Chuang, either in person or remotely in the Court's discretion, on May 23, 2024, at 2:30 p.m. at the United States Courthouse, United States District Court, District of Maryland, 6500 Cherrywood Lane, Greenbelt, MD 20770 (the "Settlement Hearing") to determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated January 12, 2024; (iii) approve the proposed Plan of Allocation for distribution of the proceeds of the Settlement (the "Net Settlement Fund") to Settlement Class Members; and (iv) approve Co-Lead Counsel's Fee and Expense Application. The Court may change the date of the Settlement Hearing, or hold it remotely, without providing another notice. You do NOT need to attend the Settlement Hearing in order to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. If you have not yet received a Postcard Notice, you may obtain copies of the Postcard Notice, long-form Notice, and Claim Form by visiting the Claims Administrator's website, www.strategicclaims.net/novavax/, or by contacting the Claims Administrator at:

Novavax, Inc. Securities Settlement
c/o Strategic Claims Services, Inc. 
600 N. Jackson Street, Suite 205
P.O. Box 230
Media, PA 19063
(866) 274-4004
www.strategicclaims.net/novavax/
[email protected] 

Inquiries, other than requests for copies of notices or about the status of a claim, may also be made to Co-Lead Counsel:

LABATON KELLER SUCHAROW LLP
Michael H. Rogers, Esq.
140 Broadway
New York, NY 10005
www.labaton.com
[email protected]
(888) 219-6877

POMERANTZ LLP
Brian Calandra, Esq.
600 Third Avenue, 20th Floor 
New York, NY 10016
www.pomlaw.com
bcalandra@pomlaw.com
(212) 661-1100

If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or submitted online no later than May 18, 2024. If you are a Settlement Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable.

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice available on the Claims Administrator's website, and such request must be received no later than May 2, 2024. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund. 

Any objections to the proposed Settlement, Co-Lead Counsel's Fee and Expense Application, and/or the proposed Plan of Allocation must be filed with the Court, either by mail or in person, and be mailed to counsel for the Parties in accordance with the instructions in the Notice available on the Claims Administrator's website, such that they are received no later than May 2, 2024. 

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR
DEFENDANTS' COUNSEL REGARDING THIS NOTICE

DATED: FEBRUARY 20, 2024

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
DISTRICT OF MARYLAND

SOURCE Labaton Keller Sucharow LLP