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Bernstein Litowitz Berger & Grossmann LLP Announces a Proposed Settlement in the Impinj, Inc. Securities Litigation

NEW YORK, Sept. 2, 2020 /PRNewswire/ --

UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF WASHINGTON
AT SEATTLE

IN RE IMPINJ, INC. SECURITIES
LITIGATION

No. 3:18-cv-05704-RSL

 

CLASS ACTION

 

 



SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND
PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING;
AND (III) MOTION FOR ATTORNEYS' FEES AND LITIGATION EXPENSES

TO:    All persons and entities who purchased or otherwise acquired the publicly traded common stock of Impinj, Inc. ("Impinj" or the "Company") during the period of July 21, 2016 through February 15, 2018, inclusive (the "Class Period"), and were damaged thereby (the "Settlement Class").1

PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS MAY BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Western District of Washington (the "Court"), that the above-captioned litigation (the "Action") is pending in the Court.

YOU ARE ALSO NOTIFIED that the Parties have reached a proposed settlement of the Action for $20,000,000 in cash for the benefit of the Settlement Class (the "Settlement"), subject to approval by the Court. 

A hearing will be held on November 19, 2020 at 1:30 p.m. Pacific time, before the Honorable Robert S. Lasnik either in person at the United States District Court for the Western District of Washington, Courtroom 15106, United States Courthouse, 700 Stewart Street, Seattle, WA 98101, or by telephone or videoconference (in the discretion of the Court).  At the hearing, the Court will determine whether: (i) the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) for purposes of the proposed Settlement only, the Action should be certified as a class action on behalf of the Settlement Class, Plaintiffs should be certified as Class Representatives for the Settlement Class, and Lead Counsel should be appointed as Class Counsel for the Settlement Class; (iii) the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated July 9, 2020 (and in the Notice) should be granted; (iv) the proposed Plan of Allocation should be approved as fair and reasonable; and (v) Lead Counsel's application for an award of attorneys' fees and expenses should be approved. 

If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to a payment from the Settlement.  If you have not yet received the Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at Impinj Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 173051, Milwaukee, WI 53217; 1-877-869-0158; or info@ImpinjSecuritiesLitigation.com.  Copies of the Stipulation of Settlement, Notice, and Claim Form can also be downloaded from the Settlement website, http://www.ImpinjSecuritiesLitigation.com.  

If you are a member of the Settlement Class, in order to be eligible to receive a payment from the Settlement, you must submit a Claim Form postmarked no later than November 27, 2020

If you are a member of the Settlement Class and do not exclude yourself from the Settlement Class, you will be bound by any judgments or orders entered by the Court in the Action (including the releases provided therein).  If the Settlement is approved, the Action and a related action pending in New York State Supreme Court entitled Plymouth County Retirement System v. Impinj, Inc. et al., Index No. 650629/2019, will be dismissed.

If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than October 29, 2020, in accordance with the instructions set forth in the Notice.  If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to receive a payment from the Settlement.

Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and litigation expenses, must be filed with the Court such that they are received no later than October 29, 2020, in accordance with the instructions set forth in the Notice.

Please do not contact the Court, the Clerk's office, Defendants, or their counsel regarding this notice.  All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to the Claims Administrator or Lead Counsel.

Requests for the Notice and Claim Form should be made to:

Impinj Securities Litigation
c/o A.B. Data, Ltd.
P.O. Box 173051
Milwaukee, WI 53217
1-877-869-0158
www.ImpinjSecuritiesLitigation.com

Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:

BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
Jonathan D. Uslaner, Esq.
2121 Avenue of the Stars, Suite 2575
Los Angeles, CA 90067
1-800-380-8496
settlements@blbglaw.com


BY ORDER OF THE COURT 
UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF WASHINGTON


1 Certain persons and entities are excluded from the Settlement Class by definition as set forth in the full Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for Attorneys' Fees and Litigation Expenses (the "Notice"), available at www.ImpinjSecuritiesLitigation.com.

Cision
Cision

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SOURCE Bernstein Litowitz Berger & Grossmann LLP