Robbins Geller Rudman & Dowd LLP Announce a Notice of Pendency and Proposed Settlement of Class Action in the In re Obalon Therapeutics, Inc. Securities Litigation

SAN DIEGO, Feb. 1, 2021 /PRNewswire/ --

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF CALIFORNIA

TO: ALL PERSONS AND ENTITIES WHO PURCHASED THE COMMON STOCK OF OBALON THERAPEUTICS, INC. ("OBALON") BETWEEN OCTOBER 6, 2016 AND MAY 11, 2018, INCLUSIVE

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of California, that a hearing will be held on April 22, 2021, at 2:00 p.m., before the Honorable Anthony J. Battaglia, United States District Judge, at the United States District Court for the Southern District of California, 221 West Broadway, Courtroom 4A, San Diego, California 92101, for the purpose of determining: (1) whether the proposed settlement of the claims in the Litigation for the principal amount of $3,150,000.00, plus interest, should be approved by the Court as fair, just, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Litigation with prejudice; (3) whether the Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys' fees and expenses and award to Lead Plaintiff pursuant to 15 U.S.C. §78u-4(a)(4) in connection with its representation of the Class in this Litigation should be approved.  The Court may adjourn the Settlement Hearing or hold it via videoconference or teleconference without further notice to the Class Members.

IF YOU PURCHASED THE COMMON STOCK OF OBALON BETWEEN OCTOBER 6, 2016 AND MAY 11, 2018, INCLUSIVE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.  If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form, you may obtain copies by writing to In re Obalon Therapeutics, Inc. Securities Litigation,  Claims Administrator, c/o A.B. Data, Ltd., P.O. Box 173031, Milwaukee, WI 53217, or on the internet at www.ObalonSecuritiesLitigation.com. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail (postmarked no later than April 22, 2021) or if submitted electronically no later than April 22, 2021, establishing that you are entitled to recovery.

If you are a Class Member and you desire to be excluded from the Class, you must submit a request for exclusion such that it is postmarked no later than April 1, 2021, in the manner and form explained in the detailed Notice, referred to above.  All Class Members who do not timely and validly request exclusion from the Class in response to the Notice will be bound by any judgment entered in the Litigation pursuant to the Stipulation and Agreement of Class Action Settlement.

Any objection to the Settlement, the Plan of Allocation, and/or the fee and expense application must be mailed to each of the following recipients, such that it is received no later than April 1, 2021:

CLERK OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF CALIFORNIA
333 West Broadway, Suite 420
San Diego, CA  92101

Lead Counsel:
ROBBINS GELLER RUDMAN
  & DOWD LLP
RACHEL L. JENSEN
655 West Broadway, Suite 1900
San Diego, CA  92101

Counsel for Defendants:
LATHAM & WATKINS LLP
COLLEEN SMITH
12670 High Bluff Drive
San Diego, CA  92130

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. 

If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above.

SOURCE Robbins Geller Rudman & Dowd LLP

Related Links

http://www.ObalonSecuritiesLitigation.com