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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 January 2, 2019 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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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
You must register to view and download the Settlement Notice and Settlement Proof.
July 2, 2018 - The court preliminarily approved the settlement.
May 18, 2018 - A stipulation of settlement was filed by the parties.
February 22, 2018 - The court of appeals reversed the courts' judgement and remanded the case to the district court for further proceedings.
December 16, 2015 - A third notice of appeal was filed.
December 8, 2015 - The court granted the defendants' motion to dismiss.
May 18, 2015 - A second notice of appeal was filed.
May 14, 2015 - The court granted defendants' motion to dismiss.
October 17, 2013 - A notice of appeal was filed.
September 19, 2013 - The court granted the defendants' motion to dismiss and ordered the case closed.
July 11, 2012 - An amended complaint was filed.
January 24, 2012 - An investor in shares of TranS1 Inc (NASDAQ: TSON now known as Baxano Surgical Inc and trading on the NASDAQ sheets as BAXS) filed a securities class action lawsuit in the U.S. States District Court for the Eastern District of North Carolina against TranS1 Inc over alleged Violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 21, 2008 and October 17, 2011.
According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased TranS1 Inc (NASDAQ: TSON) securities during the period between February 21, 2008 and October 17, 2011, that TranS1 Inc violated the Securities Exchange Act of 1934. Despite that TranS1 Inc’s annual Revenue rose from $16.47 million in 2007 to $26.15 million in 2010, its Net Loss grew from $8.58 million in 2007 to $19.53 million in 2010. TranS1 Inc’s second quarter Revenue fell from $7.24 million last year to $5.34 million this year and its second quarter Net Loss grew from $3.65 million last year to a second quarter Net Loss in 2011 of $4.31 million. Shares of TranS1 Inc (NASDAQ: TSON) fell from almost $25 in November 2007 to as low as $1.79 in December 2010.
However, during the first months NASDAQ: TSON stocks climbed to over $5 per share and were able to trade for the most part above $4 per share until the beginning of September.
Then on October 17, 2011, TranS1 Inc disclosed in a filing with the U.S. Securities and Exchange Commission that on or about October 6, 2011, TranS1 Inc received a subpoena issued by the Department of Health and Human Services, Office of Inspector General, under the authority of the federal healthcare fraud and false claims statutes. TranS1 Inc said that the subpoena seeks documents for the period January 1, 2008 through October 6, 2011. TranS1 Inc (NASDAQ: TSON) stocks fell from $3.17 per share on October 17, 2011 to $1.80 on October 18, 2011.
During November 2011 TranS1 Inc (NASDAQ: TSON) stocks fell to as low as $1.46 per share, but were able to regain some value in December 2011 and trade at $2.10.
On January 24, 2012, TranS1 Inc (NASDAQ: TSON) stocks closed at $2.26 per share.