Pomerantz LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Securities of Lipocine, Inc. -- LPCN

SALT LAKE CITY, April 23, 2018 -- Pomerantz LLP announces that the United States District Court for the District of Utah has approved the following announcement of a proposed class action settlement that would benefit purchasers of securities of Lipocene, Inc. (NASDAQ:LPCN):

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION AND FINAL APPROVAL HEARING

To:  ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED SECURITIES OF LIPOCINE INC. BETWEEN JUNE 30, 2015 AND JUNE 28, 2016, BOTH DATES INCLUSIVE.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the District of Utah that a hearing will be held on July 2, 2018, at 2:00 p.m. before the Honorable Dee Benson, United States District Judge of the District of Utah, 351 South West Temple, Courtroom 8.300, Salt Lake City, Utah, 84101 for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $4,250,000 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Lead Counsel for an award of attorneys’ fees of up to one-third of the Settlement Amount ($1,416,666.67) plus interest, reimbursement of expenses of not more than $150,000, and a Compensatory Award to Lead Plaintiff of no more than $22,500 collectively (or $7,500 each) should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation of Settlement dated March 9, 2018 (the “Settlement Stipulation”).

If you purchased Lipocine Inc. (“Lipocine”) securities between June 30, 2015 and June 28, 2016, both dates inclusive (the “Class Period”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Lipocine securities. If you have not received a detailed Notice Of Proposed Settlement Of Class Action, Motion For Attorneys’ Fees And Expenses, And Settlement Fairness Hearing (“Notice”) and a copy of the Proof of Claim and Release Form, you may obtain copies by visiting http://www.strategicclaims.net/ or by contacting the Claims Administrator toll-free at (866) 274-4004 or at [email protected]. If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form to the Claims Administrator postmarked no later than June 11, 2018, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim.

If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received no later than June 11, 2018, in the manner and form explained in the Notice. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Settlement Stipulation.

Any objection to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and award to Lead Plaintiff must be in the manner and form explained in the detailed Notice and received no later than June 11, 2018, by each of the following:

If you have any questions about the Settlement, you may visit http://www.strategicclaims.net or write to Lead Counsel at the above address. PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.

Contact: 
Jeremy Lieberman 
Pomerantz LLP 
600 Third Avenue, Floor 20 
New York, NY 10016 
212-661-1100