Juno Therapeutics Securities Litigation

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Juno Therapeutics Securities Litigation
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Settlement Notice and Proof of Claim and Release Form 
Settlement Notice and Proof of Claim and Release Form 
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The information contained on this website is only a summary.  You may download a copy of the Settlement Notice and Proof of Claim and Release Form by clicking here.  Since this website is just a summary, you should review the Settlement Notice for additional details.

The Class

The “Class,” as certified by the Court, consists of all persons or entities that purchased or otherwise acquired publicly traded common stock of Juno Therapeutics, Inc. (“Juno”) from June 4, 2016, to November 22, 2016, both dates inclusive (the “Class Period”).

Excluded from the Class are any parties who are or have been Defendants in this Litigation, the present and former officers and directors of Juno and any subsidiary thereof, members of their immediate families and their legal representatives, heirs, successors or assigns, and any entity in which any current or former Defendant has or had a controlling interest.   

The Action

This Action was commenced on July 12, 2016 in the U.S. District Court for the Western District of Washington. The case is known as In re Juno Therapeutics, Inc., No. C16-1069-RSM.

Plaintiffs allege violations of the federal securities laws (specifically Sections 10(b) and 20(a) of the Exchange Act (15 U.S.C. § 78j(b) and 78(t)(a)) and Rule 10b-5 promulgated thereunder (17 C.F.R. § 240.10b-5)) against Defendants Juno, Hans E. Bishop, Steven D. Harr, and Mark J. Gilbert.

Juno was a Delaware corporation with its executive offices located at 307 Westlake Avenue, N., Suite 300, Seattle, WA 98109. The company was a highly-promotional development stage biopharmaceutical company traded on the NASDAQ exchange under the symbol “JUNO.” On March 6, 2018, Celgene Corporation acquired Juno. As a result, Juno is no longer listed for trading on NASDAQ.

On October 19, 2016, the Court appointed Gilbert Hoang Nguyen as Lead Plaintiff. Lead Plaintiff filed an Amended Complaint on December 12, 2016, alleging securities violations by Defendants related to an immunotherapy cancer treatment candidate under development by Juno known as JCAR015, which focuses on the use of chimeric antigen receptor cells to treat a rare form of blood cancer called Acute Lymphoblastic Leukemia. Plaintiffs alleged that, during the Class Period, Juno’s stock price was artificially inflated as a result of a series of allegedly untrue or materially misleading statements regarding JCAR015. Plaintiffs further contended that Defendants made these statements knowing them to be false or misleading, or recklessly disregarded their false or misleading natures, and further alleged that investors suffered injury as a result of the alleged inflation when the truth was disclosed.

Defendants have denied and continue to deny all allegations of any wrongdoing or liability whatsoever arising out of any of the conduct, statements, acts or omissions alleged, or that could have been alleged, in the Action.

Class Counsel and Defendants’ Counsel participated in protracted negotiations in mediation with the assistance of former U.S. District Court Judges Layn R. Phillips and Gary A. Feess. During these negotiations, the parties discussed, among other things, the respective claims and defenses, damage analyses, legal analyses, the evidence to be offered by the parties at trial, and other important factual and legal issues.

These negotiations resulted in the agreement to settle all claims of the Class against the Defendants, i.e., the Stipulation, entered into on July 31, 2018. Class Counsel believe that the claims asserted in the Action have merit and that the evidence developed to date in the Action supports the claims asserted therein. Class Counsel assert, and believe the Class would present supporting evidence at trial establishing, liability against the Defendants under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

However, Class Counsel recognize and acknowledge the expense and length of continued proceedings, trial, and appeals, and have taken into account the uncertain outcome and the risk of any litigation, especially complex actions such as here. They are also mindful of the defenses asserted by Defendants and that Defendants have denied and continue to deny all allegations of wrongdoing or liability.

In light of the foregoing, Class Counsel believe that the Settlement set forth in the Stipulation provides an excellent recovery for the Class. Based on their evaluation, Class Counsel have determined that the Settlement is in the best interests of the Class.

The Court granted Preliminary Approval of the Settlement on August 8, 2018.    

Your Rights as a Class Member

If you fit the description of a Class Member, you have a choice whether to remain a member of the Class in this Action.


YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:

SUBMIT A PROOF OF CLAIM AND RELEASE FORM

DEADLINE: NOVEMBER 6, 2018

This is the only way to be eligible to receive a payment from the Settlement.  If you are a Class Member, you will be bound by the Settlement as approved by the Court and you will give up any Released Claims that you have against the Released Persons, so it is in your interest to submit a Claim Form.

See: Proof of Claim and Release Form 

EXCLUDE YOURSELF FROM THE SETTLEMENT

DEADLINE: NOVEMBER 2, 2018

Each member of the Class shall be bound by all determinations and judgments of the Court in connection with the Settlement, whether favorable or unfavorable, unless such Class Member shall mail, by first class mail, sufficient postage prepaid, a written request for exclusion from the Class.  A request for exclusion shall not be effective unless submitted within the time and in the form and manner provided for herein. You cannot exclude yourself by telephone, email or fax.

Settlement Notice

p. 5

Section IV

GO TO THE HEARING ON NOVEMBER 16, 2018 AT 11:00 A.M. IN COURTROOM SUITE 13134 OF THE U.S. DISTRICT COURT FOR THE WESTERN DISTRICT OF WASHINGTON, 700 STEWART STREET, SEATTLE, WA 98101.

DEADLINE TO SUBMIT A NOTICE FOR INTENTION TO APPEAR:

NOVEMBER 2, 2018

Any Class Member who does not timely and validly request exclusion from the Class and who objects to the Settlement, the adequacy of the representation provided by Class Plaintiffs and Class Counsel, the proposed Plan of Allocation of the Net Settlement Fund, the Final Order and Judgment contemplated by the Stipulation, the application for attorneys’ fees and reimbursement of expenses, and/or the application for the reimbursement of the reasonable costs and expenses of the Class Plaintiffs, or who otherwise wishes to be heard with respect to any of the foregoing, may appear in person or by attorney at the Final Approval Hearing, at his or her own expense, and present any evidence or argument that may be proper and relevant.

Settlement Notice 

p. 5-6

Section VI

DO NOTHING.

Class members who do not submit valid Proofs of Claim will not share in the settlement proceeds. Class members who do not either submit a Request for Exclusion or submit a valid Proof of Claim will nevertheless be bound by the settlement and the Order and Final Judgment of the Court dismissing this Action

Settlement Notice

p. 5

General Provisions #9



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