Pomerantz LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Stock of Y-mAbs Therapeutics, Inc. - YMAB

Core Points - The United States District Court for the Southern District of New York has approved a proposed class action settlement for purchasers of Y-mAbs Therapeutics, Inc. stock between October 6, 2020, and October 28, 2022, totaling $19,650,000 [1][8][10] - The settlement aims to resolve allegations that the defendants made material misrepresentations regarding Y-mAbs product candidate omburtamab, which the defendants deny [10] Settlement Class Details - The Settlement Class includes all persons or entities who purchased or acquired Y-mAbs stock during the specified period, with certain exclusions such as defendants and their affiliates [2][5] - Members of the Settlement Class must submit a Proof of Claim and Release Form by October 7, 2024, to be eligible for distribution from the Net Settlement Fund [11] Hearing Information - A hearing is scheduled for October 28, 2024, to determine the fairness of the proposed settlement, the allocation plan, and the attorneys' fees request [8][10] - The Lead Counsel may request up to one-third (33 1/3%) of the settlement amount as attorneys' fees, along with reimbursement of expenses not exceeding $200,000 [8]