Overview
WELCOME TO THE Arena Securities Litigation Website
UPDATE: August 6, 2020
The distribution from the Net Settlement Fund was made to Authorized Claimants in the Arena Securities Litigation. If you have changed your address or if you have any questions regarding this distribution, please write to us using the information below. Please be sure to refer to your Claim Number in any communication.
Schueneman v. Arena Pharmaceuticals, Inc., et al., United States District Court, Southern District of California, Case No. 10-cv-1959-CAB-BLM.
This settlement (the “Settlement”) will provide $12,025,000 in cash, plus interest, and Arena common stock with a value of $11,975,000 (“Settlement Shares”) (Arena has the option to pay all or part of the Settlement Shares in cash at the time Arena is to issue the Settlement Shares), for a total settlement value of $24 million, to pay claims from investors who purchased Arena common stock from March 17, 2008 through January 27, 2011, inclusive (the “Class Period”), and were damaged thereby.
This website is not an expression of any opinion by the Court concerning the merits of any claim in the Action, and the Court still has to decide whether to approve the Settlement. If the Court approves the Settlement and a plan of allocation, then payments to Authorized Claimants will be made after any appeals are resolved and after the completion of all claims processing. Please be patient, as this process can take some time to complete.
| YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT: | |
| SUBMIT A CLAIM FROM BY April 13, 2018 |
The only way to possibly receive a payment from the Settlement. |
| EXCLUDE YOURSELF BY February 12, 2018 |
You get no payment from the Settlement. This is the only option that might allow you to bring an individual lawsuit against the defendants asserting the legal claims being released in this case, if you have a valid and timely claim. |
| OBJECT BY March 22, 2018 |
You may write to the Court if you do not like this Settlement, the Plan of Allocation, the Fee and Expense Award requested by Lead Counsel, and/or the award requested by Lead Plaintiff. |
| GO TO A HEARING ON April 12, 2018 |
You may ask to speak in Court about the fairness of the Settlement. |
| DO NOTHING | You get no payment and give up your rights relating to the claims described in the Notice. |
Please consult the Notice for more details on your options.