GWPH.US
id: 629, Created by Stan Vick, Scout
GW Pharma (GWPH) M&A $7.75M Settlement
How it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
Claim payout
S.D. California
Court3:21-cv-01019
Case number10 Mar 2021
Class period Start05 May 2021
Class period End08 Jan 2024
Claim deadlineGW Pharma (GWPH) agreed to pay $7.75 million to Investors to avoid further litigation.
Investors who purchased, sold, or held $GWPH at any time during the period from and including March 10, 2021, through and including May 5, 2021, may be affected by the Settlement of this Litigation.
- On February 3, 2021, GW entered into a merger agreement where GW ordinary shareholders would receive $16.66 in cash and $Jazz shares based on an exchange ratio calculated from Jazz's share price, while GW American Depositary Shares holders would receive approximately $200 per share in cash and $20 in Jazz stock;
- However, shareholder complaint alleged that $GWPH disseminated a materially false and misleading Definitive Proxy Statement to persuade GW shareholders to vote in favor of the Merger, containing inaccuracies regarding GW's financial projections, stock value, and the fairness of the Merger Consideration.
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Long
Payout per Share
0.25
Filing date
27 May 2021
Lead Plaintiff Deadline
03 August 2021
Lead plaintiff
Kurt Ziegler
Attorney
Kahn Swick & Foti, LLC (New Orleans, LA), Monteverde & Associates PC (Culver City, CA)
Defendants
Geoffrey W. Guy, Justin Gover, Cabot Brown, David Gryska, Catherine Mackey, James Noble, Alicia Secor, Lord William Waldegrave
Judge
Hon. Cynthia Bashant
Administrator
Rust Consulting
Settlement agreement date
2023-03-16
Court hearing date
11 December 2023
Exclusion deadline
20 November 2023
Objection deadline
20 November 2023
Hearing deadline
20 November 2023
Attorney fee
$0.09
Trades matching type
FIFO
+$7,750,000
Total Settlement Amount