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In re CTI Biopharma Corp. Securities Litigation

United States District Court, W.D. Washington, Seattle

February 1, 2018

IN RE CTI BIOPHARMA CORP. SECURITIES LITIGATION

          JUDGMENT APPROVING CLASS ACTION SETTLEMENT

          Robert S. Lasnik, United States District Judge

         WHEREAS, a consolidated class action is pending in this Court entitled In re CTI BioPharma Corp. Securities Litigation, No. 2:16-cv-00216-RSL (the “Action”);

         WHEREAS, (a) DAFNA LifeScience, LP and DAFNA LifeScience Select, LP (“DAFNA” or “Lead Plaintiff”), on behalf of itself and the Settlement Class (defined below); (b) defendant CTI BioPharma Corp. (“CTI” or the “Company”); (c) defendants James A. Bianco, Louis A. Bianco, Jack W. Singer, Frederick W. Telling, Reed V. Tuckson, Phillip M. Nudelman, John H. Bauer, Karen Ignagni, Richard L. Love, and Mary O. Mundinger (collectively, the “Individual Defendants” and, together with CTI, the “CTI Defendants”); and (d) defendants Piper Jaffray & Co., Landenburg Thalmann & Co. Inc., Roth Capital Partners, LLC, and National Securities Corporation (collectively, the “Underwriter Defendants, ” and, together with the CTI Defendants, the “Defendants”), collectively, the “Parties, ” have entered into a Stipulation and Agreement of Settlement dated September 15, 2017 (the “Stipulation”), that provides for a complete dismissal with prejudice of the claims asserted against Defendants in the Action on the terms and conditions set forth in the Stipulation, subject to the approval of this Court (the “Settlement”);

         WHEREAS, unless otherwise defined in this Judgment, the capitalized terms herein shall have the same meaning as they have in the Stipulation;

         WHEREAS, by Order dated October 24, 2017 (the “Preliminary Approval Order”), this Court: (a) preliminarily approved the Settlement; (b) certified the Settlement Class solely for purposes of effectuating the Settlement; (c) ordered that notice of the proposed Settlement be provided to potential Settlement Class Members; (d) provided Settlement Class Members with the opportunity either to exclude themselves from the Settlement Class or to object to the proposed Settlement; and (e) scheduled a hearing regarding final approval of the Settlement;

         WHEREAS, due and adequate notice has been given to the Settlement Class;

         WHEREAS, the Court conducted a hearing on February 1, 2018 (the “Settlement Hearing”) to consider, among other things, (a) whether the terms and conditions of the Settlement are fair, reasonable and adequate to the Settlement Class, and should therefore be approved; and (b) whether a judgment should be entered dismissing the Action with prejudice as against the Defendants; and

         WHEREAS, the Court having reviewed and considered the Stipulation, all papers filed and proceedings held herein in connection with the Settlement, all oral and written comments received regarding the Settlement, and the record in the Action, and good cause appearing therefor;

         IT IS HEREBY ORDERED, ADJUDGED AND DECREED:

         1. Jurisdiction -

         The Court has jurisdiction over the subject matter of the Action, and all matters relating to the Settlement, as well as personal jurisdiction over all of the Parties and each of the Settlement Class Members.

         2. Incorporation of Settlement Documents -

         This Judgment incorporates and makes a part hereof: (a) the Stipulation filed with the Court on September 18, 2017; and (b) the Notice and the Summary Notice, both of which were filed with the Court on December 28, 2017.

         3. Class Certification for ...


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