Pomerantz LLP Announces Notice of Pendency of Class Action and Proposed Settlement of Class Action in the In re iAnthus Capital Holdings, Inc. Securities Litigation

NEW YORK, Jan. 22, 2024 /PRNewswire/ --

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

TO:  All persons and entities who, during the period from May 14, 2018, through July 10, 2020, inclusive (the "Settlement Class Period"), purchased or otherwise acquired iAnthus Capital Holdings, Inc. ("iAnthus") securities in domestic transactions and were allegedly damaged thereby (the "Settlement Class").

Please read this notice carefully. your rights will be affected by a class action lawsuit pending in this court.

YOU ARE HEREBY NOTIFIED that Lead Plaintiff in the Action has reached a proposed settlement of the Action for $2,900,000.00 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action. 

A hearing will be held on April 10, 2024, at 9:30 a.m., before the Honorable Lewis A. Kaplan at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, Courtroom 21B, 500 Pearl Street, New York, NY  10007, or by telephonic, video conferencing, or other electronic means, as posted on the website of the Claims Administrator. The hearing will determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether for settlement purposes only, the Settlement Class should be certified, Lead Plaintiff should be certified as Class Representative for the Settlement Class, and Lead Counsel should be appointed as Class Counsel for the Settlement Class; (iii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation And Agreement Of Settlement (and in the Notice) should be granted; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; (v) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of Litigation Expenses should be approved; and (vi) whether to award Lead Plaintiff out of the Settlement Fund pursuant to 15 U.S.C. §78u?4(a)(4) in connection with his representation of the Settlement Class and, if so, in what amount.

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 share in the Settlement Fund.  If you have not yet received the Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at iAnthus Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 173041, Milwaukee, WI 53217. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator,  www.iAnthusSecuritiesLitigation.com.  

If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked no later than April 17, 2024.  If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement, but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.

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 March 20, 2024, 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 share in the proceeds of the Settlement. 

Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and reimbursement of expenses must be filed with the Court and delivered to representatives of Lead Counsel and Defendants' Counsel such that they are received no later than March 20, 2024, in accordance with the instructions set forth in the Notice.

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

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

iAnthus Securities Litigation
c/o A.B. Data, Ltd.
P.O. Box 173041
Milwaukee, WI 53217

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

POMERANTZ LLP
Jeremy A. Lieberman
Michael Grunfeld
600 Third Avenue, 20^th Floor
New York, NY 10016
[email protected]
[email protected]

Dated: December 20, 2023                                                 By Order of the Court
                                                                                            United States District Court                               
                                                                                            Southern District of New York

SOURCE Pomerantz LLP