This official website is maintained by the Claims Administrator under the supervision of Lead Counsel for the members of the Settlement Class in the Action entitled, Abadilla et al. v. Precigen, Inc. et al., Case No. 5:20-cv-06936-BLF (N.D. Cal.) (the “Action”), which is pending in the United States District Court for the Northern District of California.
The information contained on this web page is only a summary of information presented in more detail in the Notice of: (I) Pendency of Class
Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for Award of Attorneys’ Fees and Reimbursement of Expenses
(the “Notice”), which you can access by clicking here. Since this website is just a summary,
you should review the Notice for additional information.
IF YOU ARE A SETTLEMENT CLASS MEMBER, YOUR LEGAL RIGHTS WILL BE AFFECTED BY THIS SETTLEMENT WHETHER YOU ACT OR DO NOT ACT. PLEASE READ THE NOTICE CAREFULLY. THE SETTLEMENT CLASS CONSISTS OF:
ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED PUBLICLY TRADED SHARES OF THE COMMON STOCK OF PRECIGEN, INC., FORMERLY KNOWN AS INTREXON CORPORATION (“PRECIGEN”) (NASDAQ TICKER PGEN, FORMERLY XON) DURING THE PERIOD FROM MAY 10, 2017 THROUGH SEPTEMBER 25, 2020, INCLUSIVE (THE “CLASS PERIOD”) AND WERE DAMAGED THEREBY.
IF YOU ARE A SETTLEMENT CLASS MEMBER, YOUR LEGAL RIGHTS WILL BE AFFECTED BY THIS SETTLEMENT WHETHER YOU ACT OR DO NOT ACT. PLEASE READ THE NOTICE CAREFULLY. THE SETTLEMENT CLASS CONSISTS OF:
ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED PUBLICLY TRADED SHARES OF THE COMMON STOCK OF PRECIGEN, INC., FORMERLY KNOWN AS INTREXON CORPORATION (“PRECIGEN”) (NASDAQ TICKER PGEN, FORMERLY XON) DURING THE PERIOD FROM MAY 10, 2017 THROUGH SEPTEMBER 25, 2020, INCLUSIVE (THE “CLASS PERIOD”) AND WERE DAMAGED THEREBY.
| YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT: | |
|---|---|
|
SUBMIT A CLAIM FORM BY NOVEMBER 25, 2023 |
The only way to be eligible to receive a payment from the Settlement. Unless otherwise extended by the Court,
Claim Forms must be postmarked on or before November 25, 2023. You may also submit your Claim Form electronically
through this website on or before November 25, 2023 (see “File Online Claim Form” link).
See Question 9 in the Notice. |
|
EXCLUDE YOURSELF FROM THE
SETTLEMENT CLASS BY SEPTEMBER 26, 2023 |
Get no payment. This is the only option that potentially allows you to ever be part of another lawsuit against
the Defendants or any other Released Defendant Persons based on the matters being resolved by this Settlement.
Unless the deadline is otherwise extended by the Court,
exclusion requests must be mailed to the Claims
Administrator, postmarked on or before September 26, 2023.
See Question 12 in the Notice. |
|
OBJECT BY SEPTEMBER 26, 2023 |
Write to the Court about why you do not like the Settlement, Plan of Allocation, and/or request for attorneys’
fees and expenses. You will still be a member of the Class. Unless otherwise extended by the Court,
objections must be filed electronically or in person with the Court on or before September 26, 2023, or,
if mailed to the Court, postmarked on or before September 26, 2023.
See Question 17 in the Notice. |
|
ATTEND THE HEARING ON OCTOBER 19, 2023 (which is currently planned to be held remotely) |
Ask to speak in Court about the fairness of the Settlement. Unless otherwise permitted by the Court,
requests to speak must be filed electronically or in person with the Court on or before
September 26, 2023, or, if mailed to the Court, postmarked on or before September 26, 2023.
See Questions 19-21 in the Notice. |
| DO NOTHING |
Receive no payment. You will, however, still be a member of the Class, which means that you give
up your right to ever be part of any other lawsuit against the Defendants or any other Released
Defendant Persons about the legal claims being resolved by this Settlement, and that you will be
bound by any judgments or orders entered by the Court in the Action. See Question 22 in the Notice. |
The Court’s Fairness Hearing
The Court will hold a Fairness Hearing on October 19, 2023, at 9:00 a.m. Pacific Time, before the Hon. Beth Labson Freeman of the United States District Court for the Northern District of California. Please note that the Court has ordered that the hearing be held remotely by video and/or telephone conferencing, using the link referenced below. At this hearing, the Court will consider whether the Settlement is fair, reasonable, and adequate. If there are objections, the Court will consider them, even if you do not ask to speak at the hearing. The Court will also consider how much to pay to Plaintiff’s Counsel and whether the Plan of Allocation is fair, reasonable, and adequate. The Court may decide these issues at the hearing or take them under consideration for a later decision.
If you want to attend the hearing, you can attend remotely by:
Please note that the Court may change the date, time, location and/or manner of the Fairness Hearing, or the “log-in”
information, without another notice being sent to you. You should check with Lead Counsel or this website beforehand
to be sure that the date, time, location/method, and relevant “log-in” information for the hearing have not changed.
The Court will hold a Fairness Hearing on October 19, 2023, at 9:00 a.m. Pacific Time, before the Hon. Beth Labson Freeman of the United States District Court for the Northern District of California. Please note that the Court has ordered that the hearing be held remotely by video and/or telephone conferencing, using the link referenced below. At this hearing, the Court will consider whether the Settlement is fair, reasonable, and adequate. If there are objections, the Court will consider them, even if you do not ask to speak at the hearing. The Court will also consider how much to pay to Plaintiff’s Counsel and whether the Plan of Allocation is fair, reasonable, and adequate. The Court may decide these issues at the hearing or take them under consideration for a later decision.
If you want to attend the hearing, you can attend remotely by:
(a) Accessing the following link:
https://cand-uscourts.zoomgov.com/j/1607141430?pwd=OEszVGhPbTcxbjRGZngveGhmRnV5UT09
(b) Inserting the following Webinar ID: 160 714 1430 and
(c) Inserting the following password: 773627.
What is this case about?
Defendant Precigen (previously known as Intrexon Corporation) is a company that, during the relevant time period, focused on using synthetic biology to develop various products. During the Class Period, Precigen’s “Energy/Chemicals” segment was focused on developing the Company’s Methane Bioconversion Platform (“MBP”), which sought to use natural gas to convert methanotrophic organisms into valuable chemicals (notably isobutanol, isobutyraldehyde, and various forms of butanediol).
Plaintiffs allege that Defendants’ statements made during the Class Period regarding the MBP program were materially false and/or misleadingly incomplete in violation of §10(b) of the Securities Exchange Act of 1934 (“Exchange Act”), including various statements concerning the Company’s claimed success in having developed “in the money” methods to use natural gas to convert methanotrophic organisms into valuable chemical byproducts. Plaintiffs further allege that, as a result, Precigen’s stock price was artificially inflated during the Class Period.
Defendants deny all allegations of wrongdoing or liability whatsoever in this lawsuit and, among other things, maintain that all statements made by or on behalf of Defendants during the Class Period were accurate and not materially misleading when made.
Defendant Precigen (previously known as Intrexon Corporation) is a company that, during the relevant time period, focused on using synthetic biology to develop various products. During the Class Period, Precigen’s “Energy/Chemicals” segment was focused on developing the Company’s Methane Bioconversion Platform (“MBP”), which sought to use natural gas to convert methanotrophic organisms into valuable chemicals (notably isobutanol, isobutyraldehyde, and various forms of butanediol).
Plaintiffs allege that Defendants’ statements made during the Class Period regarding the MBP program were materially false and/or misleadingly incomplete in violation of §10(b) of the Securities Exchange Act of 1934 (“Exchange Act”), including various statements concerning the Company’s claimed success in having developed “in the money” methods to use natural gas to convert methanotrophic organisms into valuable chemical byproducts. Plaintiffs further allege that, as a result, Precigen’s stock price was artificially inflated during the Class Period.
Defendants deny all allegations of wrongdoing or liability whatsoever in this lawsuit and, among other things, maintain that all statements made by or on behalf of Defendants during the Class Period were accurate and not materially misleading when made.
The Settlement Benefits
The Settlement will result in a fund of $13,000,000 in cash in exchange for a release of the Released Claims and the dismissal of the Action as against all current Defendants (as well as all persons formerly named as defendants). After deductions for taxes, Court-approved attorneys’ fees and expenses, Plaintiff service awards, and costs of claims administration, the balance of the fund (the “Net Settlement Fund”), will be distributed pro rata, in accordance with a “Plan of Allocation,” to Class Members who submit valid Claim Forms. The proposed Plan of Allocation, which is subject to approval by Court, is described in more detail at the end of this Notice.
The Settlement will result in a fund of $13,000,000 in cash in exchange for a release of the Released Claims and the dismissal of the Action as against all current Defendants (as well as all persons formerly named as defendants). After deductions for taxes, Court-approved attorneys’ fees and expenses, Plaintiff service awards, and costs of claims administration, the balance of the fund (the “Net Settlement Fund”), will be distributed pro rata, in accordance with a “Plan of Allocation,” to Class Members who submit valid Claim Forms. The proposed Plan of Allocation, which is subject to approval by Court, is described in more detail at the end of this Notice.
Further Information
This website and the Notice summarize the Settlement. For more details regarding the Settlement please reference the Stipulation of Settlement, or other documents filed in the case under the "Court Documents" link above. You may also contact the Claims Administrator or Lead Counsel for further information regarding the Settlement.
This website and the Notice summarize the Settlement. For more details regarding the Settlement please reference the Stipulation of Settlement, or other documents filed in the case under the "Court Documents" link above. You may also contact the Claims Administrator or Lead Counsel for further information regarding the Settlement.