The Rosen Law Firm, P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Common Stock of Ampio Pharmaceuticals, Inc. -- AMPE

April 24, 2017

LOS ANGELES, April 24, 2017 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court for the Central District of California Western Division has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of Ampio Pharmaceuticals, Inc. (NYSE:AMPE):

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION AND FAIRNESS HEARING

TO: ALL PURCHASERS OF COMMON STOCK OF AMPIO PHARMACEUTICALS, INC. (“AMPIO”) DURING THE PERIOD JANUARY 13, 2014 THROUGH AND INCLUDING AUGUST 21, 2014, INCLUDING THOSE WHO PURCHASED AMPIO COMMON STOCK PURSUANT AND/OR TRACEABLE TO AMPIO’S SECONDARY PUBLIC OFFERING ON OR ABOUT FEBRUARY 28, 2014.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Central District of California, that a hearing will be held before the Honorable Terry J. Hatter, Jr., United States District Judge, on August 28, 2017 at 10:00 a.m. in Courtroom 9B of the First Street Courthouse, 350 W. 1st Street, 9th Floor, Los Angeles, CA 90012, for the purpose of determining, among other things, (i) whether the proposed Settlement of this Action for $3,400,000 is fair, reasonable, and adequate and should be approved; (ii) whether this Action should be dismissed with prejudice as against the Defendants as set forth in the Stipulation of Settlement dated as of January 31, 2017; (iii) whether the Plan of Allocation of the Net Settlement Fund is fair and reasonable and should be approved; and (iv) the reasonableness of an application of Lead Counsel for the payment of attorneys’ fees and expenses, with interest, incurred in connection with this Action. Lead Counsel intends to seek attorneys’ fees of $850,000 (25% of the Settlement Amount), reimbursement of expenses not to exceed $100,000, and awards to Lead Plaintiffs Eric and Bryan Harr and Plaintiff Thomas DiLorenzo of no greater than $15,000 ($5,000 each).

The Court has reserved the right to reschedule the hearing from time to time without further notice.

If, between January 13, 2014 and August 21, 2014 (the “Settlement Class Period”) you purchased Ampio common stock, your rights may be affected by this Action and the settlement thereof. If you have not received the detailed Notice of Pendency and Proposed Settlement of Class Action and Fairness Hearing (the “Notice”) and Proof of Claim form, you may obtain them free of charge at www.strategicclaims.net; by sending an e-mail to info@strategicclaims.net; by calling the Claims Administrator toll-free at 866-274-4004; or by writing to Ampio Pharmaceuticals, Inc. Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Ste. 3, Media, PA 19063. You may also contact Lead Counsel directly: Laurence Rosen, Esq. or Phillip Kim, Esq., The Rosen Firm, P.A., 275 Madison Avenue, 34th Floor, New York, New York 10016, (212) 686-1060. 

If you are a member of the Settlement Class and wish to share in the Settlement money, you must submit a Proof of Claim postmarked no later than July 5, 2017 to the Claims Administrator establishing that you are entitled to recovery.  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 exclude yourself from the Settlement Class, in accordance with the procedures set forth in the Notice, postmarked no later than August 7, 2017 to Lead Counsel and Defense Counsel. Any objections to the Settlement, Plan of Allocation or attorneys’ fees and expenses must be filed and served, in accordance with the procedures set forth in the Notice, received no later than August 7, 2017 to each of the following:

Clerk of the Court U.S. District Court Central District of California First Street Federal Courthouse   350 W. 1st Street Los Angeles, CA 90012

Laurence M. Rosen, Esq. Phillip Kim, Esq. THE ROSEN LAW FIRM, P.A. 275 Madison Avenue, 34th Floor   New York, NY 10016 Lead Counsel

Deborah S. Birnbach, Esq. Goodwin Procter LLP 100 Northern Avenue Boston, MA  02210 Counsel for Defendants

If you have any questions about the Settlement, you may call or write to Lead Counsel:

Laurence M. Rosen, Esq. Phillip Kim, Esq. THE ROSEN LAW FIRM, P.A. 275 Madison Avenue, 34th Floor New York, New York 10016 Tel.: 212-686-1060 Fax: 212-202-3827

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE ABOUT THIS NOTICE.

Dated:  April 5, 2017

   

BY ORDER OF THE U.S. DISTRICT 

   

COURT FOR THE CENTRAL

   

DISTRICT OF CALIFORNIA