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The Rosen Law Firm P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Common Stock and Warrants of BioAmber, Inc. -- BIOAQ

January 30, 2020

CENTRAL ISLIP, N.Y., Jan. 30, 2020 (GLOBE NEWSWIRE) -- The Rosen Law Firm P.A. announces that the United States District Court for the Eastern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock and warrants of BioAmber. (OTCMKTS:BIOAQ):

SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT

TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED BIOAMBER, INC. COMMON STOCK (CUSIP: 09072Q106) OR WARRANTS (CUSIP: 09072Q114), EXCEPT THOSE PURCHASED ON THE TORONTO STOCK EXCHANGE, BETWEEN July 15, 2014 AND August 3, 2017, BOTH DATES INCLUSIVE.

YOU ARE HEREBY NOTIFIED that the above-captioned action has been certified as a class action for settlement purposes and that Plaintiffs have reached a proposed settlement with Settling Defendants to resolve all claims in the case for $2,250,000 in cash. The Settlement Class consists of all persons or entities (except Defendants, members of the immediate family of any individual defendant, any entity in which any Defendant has more than a 50% ownership interest, or which any Defendant controls, and the legal representatives, heirs, successors, or assigns of any such excluded party) who purchased or otherwise acquired BioAmber, Inc. (“BioAmber”) common stock (CUSIP: 09072Q106) or warrants (CUSIP: 09072Q114), except those purchased on the Toronto Stock Exchange, between July 15, 2014 and August 3, 2017, both dates inclusive ( “Class Period”), and were damaged thereby, excluding those persons who timely and validly request exclusion from the Class pursuant to the “Notice of Pendency and Settlement of Class Action” (“Notice”) to be sent to the Class and that are accepted by the Court.

A hearing will be held on May 20, 2020, at 9:00 a.m. before the Honorable Arthur D. Spatt, Courtroom 1020 of the United States District Court for the Eastern District of New York, 100 Federal Plaza, Central Islip, New York 11722, to determine: (1) whether the Court should approve the Settlement and Plan of Allocation as fair, reasonable, and adequate; and (2) whether the Court should approve Lead Counsel’s application for an award of attorneys’ fees of up to one-third of the Settlement Amount plus reimbursement of litigation expenses incurred, and an incentive payment of no more than $6,000 in total, or $3,000 each, to Plaintiffs.

If you have not received a detailed Notice and a copy of the Proof of Claim and Release Form, you may obtain copies by writing to or calling BioAmber, Inc. Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 205, P.O. Box 230, Media, PA 19063; (Tel) (866) 274-4004; or by email at info@strategicclaims.net, or going to the website, www.strategicclaims.net. If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form electronically or postmarked no later than April 22, 2020 to the Claims Administrator, establishing that you are entitled to recovery.  Unless you submit a written exclusion request, you will be bound by any judgment, including the releases therein, rendered in the Action whether or not you make a claim. 

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 and Release Form, unless you exclude yourself from the Settlement Class, in accordance with the procedures set forth in the Notice, by no later than April 29, 2020.

Any objection to the Settlement, Plan of Allocation, or Class Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and award to Plaintiffs must be served no later than April 29, 2020, in the manner and form explained in the detailed Notice to each of the following:

Clerk of Court
U.S. District Court for the Eastern District of New York 100 Federal Plaza
Central Islip, NY 11722

LEAD COUNSEL:
Jonathan Horne, Esq.
THE ROSEN LAW FIRM, P.A.
275 Madison Avenue
 40th Floor
New York, NY. 10016
Tel: (212) 686-1060
Fax: (212) 202-3827

DEFENDANTS’ COUNSEL:
Brian E. Pastuszenski, Esq.
GOODWIN PROCTER LLP
620 Eighth Avenue
New York, NY 10018
Tel: (212) 813-8800
Fax: (212) 355-3333

If you have any questions about the Settlement, you may call or write to the Claims Administrator or Lead Counsel at the addresses and phone numbers listed above.

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