XXII.US
id: 690
22nd Century Group, Inc. (XXII) $3M Investor Settlement
The process of distributing settlement funds to claimants has started.
$3,000,000
Cash SettlementW.D. New York
Court1:19-cv-01285
Case number02/18/2016
Class period Start07/31/2019
Class period End10/10/2023
Claim deadline22nd Century Group, Inc. (XXII) agreed to settle $3 million with Investors to avoid further litigation.
Those, who during the period from February 18, 2016, and July 31, 2019, inclusive purchased or otherwise acquired 22nd Century Group, Inc. securities and were allegedly damaged thereby, may be entitled to a payout.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that:
- 22nd Century’s stock was prone to manipulation through paid stock promotions;
- such conduct would subject 22nd Century to heightened regulatory scrutiny by the Securities and Exchange Commission; and
- consequently, 22nd Century’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Case Status
Disbursement
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.03
Filing date
01/21/2019
Plaintiffs
Joseph Noto, Garden State Tire Corp., Stephens Johnson
Attorneys
Pomerantz
Defendants
Henry Sicignano III , John T. Brodfuehrer, Bronstein, Gewirtz & Grossman
Judge
Hon. John L. Sinatra
Administrator
EPIQ
Court hearing date
10/03/2023
Exclusion deadline
09/12/2023
Objection deadline
09/12/2023
Hearing deadline
09/12/2023
Class wide damages
$15,000,000
Trades matching type
FIFO
Disbursement date
11/12/2024