UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
In re RESONANT INC. SECURITIES
This Document Relates To:
Master File No. 2:15-cv-01970 SJO (MRW)
SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION
To: All persons who purchased Resonant Inc. (“Resonant” or the “Company”) common stock on the public market between November 6, 2014 and February 26, 2015, inclusive (the “Settlement Class”).
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Central District of California (“District Court”) and Rule 23 of the Federal Rules of Civil Procedure, that a hearing will be held on November 20, 2017 at 10:00 a.m. before the Honorable S. James Otero at the United States District Court, Central District of California, 350 W. 1st Street, Los Angeles, California 90012 - Courtroom 10C, to determine (1) whether the proposed Settlement of this Action for $2,750,000, plus accrued interest, should be approved by the District Court as fair, reasonable and adequate; (2) whether the proposed Plan of Allocation should be approved as fair, reasonable and adequate; (3) whether Lead Counsel should be awarded $907,500 in attorneys’ fees (33% of the $2,750,000 settlement amount) and reimbursed for up to $80,000 of litigation expenses (exclusive of administration costs); (4) whether Lead Plaintiffs should be awarded up to $5,000 each in incentive awards for their respective contributions to this lawsuit; and (5) whether the Action should be dismissed with prejudice against the Defendants under the terms set forth in the Amended Stipulation. The date of the hearing can be changed by the Court without further notice to the Class.
If you have not received the detailed Notice of Proposed Class-Action Settlement (the “Notice”) and Proof of Claim and Release Form, you may obtain them free of charge at the Claims Administrator’s website, www.resonantsecuritieslitigation.com, or by contacting the Claims Administrator by toll free phone at 1-888-213-8529 or email at email@example.com or by mail at In re Resonant Inc. Sec. Litig., c/o JND Class Action Administration LLC, P.O. Box 6968, Broomfield, CO 80021.
If you purchased or otherwise acquired shares of Resonant common stock between November 6, 2014, and February 26, 2015 (both dates inclusive), your rights may be affected by this Settlement.
As further described in the Notice, you will be bound by any Judgment entered in the Action, regardless of whether you submit a Proof of Claim, unless you request exclusion from the Class, in the manner set forth in the Notice, postmarked no later than October 30, 2017.
If you are a member of the Class and wish to share in the Settlement proceeds, you must complete and submit a Proof of Claim postmarked no later than November 10, 2017 establishing that you are entitled to recovery.
Any objections to the Settlement, Plan of Allocation, Lead Counsel’s application for attorneys’ fees and reimbursement of expenses, or Lead Plaintiffs’ request for incentive awards must be filed and served, in the manner set forth in the Notice, so that it is received no later than October 30, 2017.
Inquiries, other than requests for the Notice, may be made to Lead Counsel for the Class at Nicholas I, Porritt, Esq., Levi & Korsinsky LLP, 1101 30th Street NW, Washington, D.C. 20007 and Ira Press, Esq. Kirby McInerney LLP, 825 Third Avenue, 16th Floor, New York, NY 10022.
DO NOT CONTACT THE COURT, THE CLERK’S OFFICE, DEFENDANTS, OR DEFENDANTS’ COUNSEL REGARDING THIS NOTICE
DATED: August 10, 2017
BY ORDER OF THE DISTRICT COURT
FOR THE CENTRAL DISTRICT OF