This official website is maintained by the Claims Administrator and supervised by Lead Counsel in the action entitled Busic v. Orphazyme A/S, et al, Case No. 1:21CV-03640, pending in the United States District Court for the Northern District of Illinois, Eastern Division. (the “Court”)
UPDATE: On September 3, 2024, Settlement has been approved by the Order of the Court. The initial distribution of the net settlement fund was
conducted on or around September 20, 2024.
The information contained on this web page is only a summary of information presented in more detail in the Notice of Proposed Settlement of Class Action, Motion for Attorneys’ Fees and Expenses, and Settlement Fairness Hearing (the “Notice”), which you can access by clicking
here. Because this website is just a summary, you should review the Notice for additional details.
If you are a member of the Class, you are subject to the Settlement and you may be eligible for a payment from the Settlement, unless you timely and validly request to be excluded. The Class consists of:
Those who purchased, or otherwise acquired, the American Depositary Shares (“ADS”) of Orphazyme A/S (“Orphazyme”) (NASDAQ: ORPH) in its September 2020 Initial Public Offering (“IPO”) or at any time between September 29, 2020 and November 4, 2021, both dates inclusive (the “Settlement Class Period”), you could be entitled to a payment from a class action settlement (the “Settlement”).
The Court will hold a Settlement Fairness Hearing on February 7, 2024 to decide whether to approve the Settlement. If approved by the Court, the Settlement will provide a gross amount of two million five hundred thousand dollars ($2,500,000.00) (the “Settlement Amount”), plus interest earned thereon, minus attorneys’ fees, costs, administrative expenses, and any compensatory award to Lead Plaintiff or the additional plaintiff named in the Second Amended Complaint (together, “Plaintiffs”), and net of any taxes, to pay claims of investors who purchased or otherwise acquired Orphazyme’s ADS during the Settlement Class Period.
Excluded from the Settlement Class are Defendants; members of their immediate families and their affiliates; any entity in which any Defendant had a controlling interest during the Settlement Class Period; any person who served as an officer or director of Orphazyme during the Settlement Class Period; and the successors, heirs, and assigns of any excluded person. Per the terms of the Stipulation, Defendants shall assist in identifying the persons and entities to be excluded from the Settlement Class.
Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found in the menu on the top of this page.
Payments to eligible claimants will be made only after any appeals are resolved and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
Please read the Notice carefully. If you have questions, you may call the Orphazyme Securities Litigation Help Line at 1-800-918-9014 or email info@OrphSecuritiesLitigation.com.
If you are a member of the Class, you are subject to the Settlement and you may be eligible for a payment from the Settlement, unless you timely and validly request to be excluded. The Class consists of:
Those who purchased, or otherwise acquired, the American Depositary Shares (“ADS”) of Orphazyme A/S (“Orphazyme”) (NASDAQ: ORPH) in its September 2020 Initial Public Offering (“IPO”) or at any time between September 29, 2020 and November 4, 2021, both dates inclusive (the “Settlement Class Period”), you could be entitled to a payment from a class action settlement (the “Settlement”).
The Court will hold a Settlement Fairness Hearing on February 7, 2024 to decide whether to approve the Settlement. If approved by the Court, the Settlement will provide a gross amount of two million five hundred thousand dollars ($2,500,000.00) (the “Settlement Amount”), plus interest earned thereon, minus attorneys’ fees, costs, administrative expenses, and any compensatory award to Lead Plaintiff or the additional plaintiff named in the Second Amended Complaint (together, “Plaintiffs”), and net of any taxes, to pay claims of investors who purchased or otherwise acquired Orphazyme’s ADS during the Settlement Class Period.
Excluded from the Settlement Class are Defendants; members of their immediate families and their affiliates; any entity in which any Defendant had a controlling interest during the Settlement Class Period; any person who served as an officer or director of Orphazyme during the Settlement Class Period; and the successors, heirs, and assigns of any excluded person. Per the terms of the Stipulation, Defendants shall assist in identifying the persons and entities to be excluded from the Settlement Class.
Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found in the menu on the top of this page.
Payments to eligible claimants will be made only after any appeals are resolved and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
Please read the Notice carefully. If you have questions, you may call the Orphazyme Securities Litigation Help Line at 1-800-918-9014 or email info@OrphSecuritiesLitigation.com.
| YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT: | |
|---|---|
| SUBMIT A CLAIM FORM | This is the only way to be eligible to receive a payment. Proof of Claim and Release Forms must be received no later than January 17, 2024. |
| EXCLUDE YOURSELF | Get no payment. This is the only option that allows you to ever be part of any other lawsuit against the Defendants or any other Released Parties about the legal claims in this lawsuit. Requests for Exclusion must be received no later than January 17, 2024. |
| OBJECT | Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees, costs, and expenses or the Lead Plaintiff compensatory award. You still will be a member of the Settlement Class. Objections must be received by the Court, Lead Counsel, and Defendants’ counsel by January 17, 2024. |
| GO TO A HEARING | Ask to speak in Court about the fairness of the Settlement on February 7, 2024. |
| DO NOTHING. | Get no payment. Give up your rights. |
