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You must submit the settlement "Proof" form attached below, in order to participate in this settlement. There is a strict deadline of February 12, 2020 by which all claims must be submitted. The instructions for submitting are included in the "Proof" and the "Notice" files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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Lawsuit Overview
Settlement Overview
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March 13, 2020 - The court granted final approval.
November 18, 2019 - The court preliminarily approved the settlement.
September 4, 2019 - A stipulation of settlement was filed by the parties.
July 23, 2018 - A second amended complaint was filed.
March 2, 2018 - An amended complaint was filed.
January 25, 2017 - An investor in shares of Pixarbio Corp (OTCMKTS: PXRB) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Pixarbio Corp in connection with certain allegedly false and misleading statements.
According to the complaint the plaintiff alleges on behalf of purchasers of Pixarbio Corp (OTCMKTS: PXRB) securities pursuant and/or traceable to PixarBio Corp’s private placement that closed on October 30, 2016 and/or publicly traded on the open market from October 31, 2016 through January 20, 2017, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that the defendants made allegedly false and/or misleading statements and/or failed to disclose that the market for Pixarbio Corp’s securities exhibited manipulative or deceptive activities, that Pixarbio Corp’s assertions in press releases, third-party promotional materials, and Pixarbio Corp’s Form S-1 concerning, among other things, Pixarbio Corp’s business combinations and current shareholders; the identity and qualifications of key shareholders and employees and Pixarbio Corp’s current and prospective development efforts lacked veracity, and that as a result, Defendants’ public statements were materially false and misleading at all relevant times. Medford, MA based Pixarbio Corp, formerly BMP Holdings Inc., is a specialty pharmaceutical/biotechnology company that is focused on pre-clinical and commercial development of neurological drug delivery systems for post-operative pain.
On January 23, 2017, the Securities and Exchange Commission (“SEC”) announced the temporary suspension of trading in the securities of Pixarbio Corp (OTCMKTS: PXRB) “because the market for the security appears to reflect manipulative or deceptive activities and because of questions regarding the accuracy of assertions by Pixarbio Corp in press releases and its Form S-1 concerning, among other things: (1) the company’s business combinations and current shareholders; (2) the identity and qualifications of key shareholders and employees; and (3) the company’s current and prospective development efforts.”