Labaton Sucharow LLP and Levi & Korsinsky LLP Announce a Notice of Pendency of Class Action and Proposed Settlement in In re PTC Therapeutics, Inc. Securities Litigation

NEW YORK, June 13, 2018 /PRNewswire/ --

UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED SETTLEMENT,
AND MOTION FOR ATTORNEYS' FEES AND EXPENSES

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 District of New Jersey, that Boston Retirement System ("Boston") and Si Nguyen, Hong-Luu Nguyen, John Nguyen, and the Si Tan Nguyen Trust (the "Nguyen Family") (collectively, "Lead Plaintiffs"), on behalf of themselves and the Settlement Class, and PTC Therapeutics, Inc., Stuart Peltz, and Shane Kovacs (collectively, "Defendants") have reached a proposed settlement of the above-captioned action (the "Action") in the amount of $14,750,000 that, if approved, will resolve the Action in its entirety (the "Settlement").

A hearing will be held before the Honorable Kevin McNulty of the United States District Court for the District of New Jersey, Martin Luther King, Jr. Federal Courthouse, 50 Walnut Street, Newark, NJ 07102, Courtroom PO 04, Newark, NJ 07102 at 10:00 a.m. on September 7, 2018 (the "Settlement Hearing") to, among other things, determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated March 1, 2018; (iii) approve the proposed Plan of Allocation for distribution of the Net Settlement Fund; and (iv) approve Co-Lead Counsel's Fee and Expense Application.  The Court may change the date of the Settlement Hearing without providing another notice.  You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT.  If you have not yet received a Notice and Proof of Claim and Release form ("Claim Form"), you may obtain copies of these documents by visiting the website dedicated to the Settlement, www.PTCTherapeuticsSecuritiesLitigation.com, or by contacting the Claims Administrator at:

PTC Therapeutics, Inc. Securities Litigation
Claims Administrator
c/o A.B. Data, Ltd.
P.O. Box 173032
Milwaukee, WI 53217
(877) 242-4889

Inquiries, other than requests for the Notice/Claim Form or for information about the status of a claim, may also be made to Co-Lead Counsel:

If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or received no later than September 27, 2018.  If you are a Settlement Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court in the Action, whether favorable or unfavorable. 

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received no later than August 17, 2018.  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, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund. 

Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Co-Lead Counsel's Fee and Expense Application must be filed with the Court and mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are filed and received no later than August 17, 2018.

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS,
OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE.

SOURCE Labaton Sucharow LLP and Levi & Korsinsky LLP