Menlo Securities Litigation Settlement
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Welcome to the Menlo Securities Litigation Settlement Website

This website has been established to provide general information related to the proposed settlement of the case styled In re Menlo Therapeutics Inc. Securities Litigation, Lead Case No. 18CIV06049 (the "Litigation"), pending before the Superior Court of the State of California, County of San Mateo (the "Court"). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated March 26, 2020, which can be found and downloaded by clicking on the Case Documents tab above. Your rights may be affected by the Settlement if you purchased or otherwise acquired Menlo Therapeutics Inc. ("Menlo" or the "Company") common stock pursuant or traceable to the Company's Registration Statement and Prospectus issued in connection with Menlo's January 29, 2018 Initial Public Offering ("IPO")("Class"). For purposes of this Settlement only, the Class includes all persons or entities who purchased or otherwise acquired Menlo common stock between January 25, 2018 and July 24, 2018, inclusive. 

The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

WHAT IS THIS LAWSUIT ABOUT?

As more fully described in the Notice of Proposed Settlement of Class Action (the "Notice"), the initial complaint in this action was filed on November 8, 2018. On December 20, 2018, the Court appointed Robbins Geller Rudman & Dowd LLP as Lead Counsel.

In an effort to conserve judicial resources and attempt to settle the Action, the Menlo Defendants and Plaintiffs engaged the services of the Honorable Layn R. Phillips (Ret.), a nationally recognized mediator. There was an exchange of detailed mediation statements and a full-day in-person mediation with Judge Phillips on February 12, 2020. That same day, the Parties agreed to settle the Action, subject to the negotiation of a Stipulation of Settlement and approval by the Court.

WHAT DOES THE SETTLEMENT PROVIDE?

The Settlement, if approved, will result in the creation of a cash settlement fund of $9,500,000.00 (the “Settlement Amount”). The Settlement Amount, plus accrued interest, is the Settlement Fund. The Settlement Fund minus the costs of the Notice and all costs associated with the administration of the Settlement, Taxes and Tax Expenses, attorneys’ fees and expenses, and any award to Plaintiffs in connection with their representation of the Class, as approved by the Court (the “Net Settlement Fund”), will be distributed to eligible Class Members pursuant to the Plan of Allocation that is described in the Notice.

ADDITIONAL INFORMATION

Although the information in this website is intended to assist you, it does not replace the information contained in the Notice and Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

SUBMIT A PROOF OF CLAIM AND RELEASE The only way to be eligible to receive a payment from the Settlement. Proofs of Claim and Release must be postmarked (if mailed) or received (if submitted online) on or before August 17, 2020.
OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION Write to the Court about why you do not like the Settlement, the Plan of Allocation and/or the request for attorneys’ fees and expenses. Objections must be filed with the Court and sent to Plaintiffs' Counsel by July 24, 2020.
GO TO THE HEARING ON AUGUST 14, 2020, AND FILE A NOTICE OF INTENTION TO APPEAR Ask to speak in Court about the fairness of the Settlement. Requests to speak must be filed with the Court and sent to Plaintiffs' Counsel by July 24, 2020. If you submit a written objection, you may (but you do not have to) attend the hearing.
EXCLUDE YOURSELF FROM THE CLASS (OPT OUT) BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION SO THAT IT IS POSTMARKED NO LATER THAN JULY 24, 2020 Receive no payment pursuant to this Settlement. This is the only option that allows you to ever potentially be part of any other lawsuit against Defendants or any other Released Person concerning the Released Claims.
DO NOTHING Receive no payment. You will, however, still be a Class Member, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Person about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Litigation.

IMPORTANT DATES AND DEADLINES

Submit Proof of Claim: August 17, 2020
File Objection: July 24, 2020
Request Exclusion: July 24, 2020
File Notice of Intention to Appear: July 24, 2020
Court Hearing on Fairness of Settlement: August 14, 2020, at 2:00 p.m.