The Rosen Law Firm, P.A. and Glancy Prongay & Murray LLP Announce Proposed Class Action Settlement on Behalf of Purchasers of Securities of Aeterna Zentaris, Inc. - AEZS

NEWARK, N.J., Nov. 9, 2020 /PRNewswire/ -- The Rosen Law Firm, P.A. and Glancy Prongay & Murray LLP announce that the United States District Court for the District of New Jersey has approved the following announcement of a proposed class action settlement that would benefit purchasers of securities of Aeterna Zentaris, Inc. (NASDAQ: AEZS):

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

To: All persons and entities who purchased Aeterna Zentaris, Inc. ("Aeterna") securities on a U.S. Exchange or in a U.S. transaction during the period from August 30, 2011 through November 6, 2014, both dates inclusive, and who did not sell such securities prior to November 6, 20141:

THIS NOTICE WAS AUTHORIZED BY THE COURT.  IT IS NOT A LAWYER SOLICITATION.  PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the District of New Jersey (the "Court"), that the above-captioned securities class action (the "Action") is pending in the Court.

YOU ARE ALSO NOTIFIED that Lead Plaintiffs in the Action, on behalf of themselves and the Class, have reached a proposed settlement of the Action for $6,500,000 in cash (the "Settlement"). If approved, the Settlement will resolve all claims in the Action.

A telephonic hearing (the "Settlement Hearing") will be held on February 16, 2021 at 11:00 a.m. before the Honorable Peter G. Sheridan (Toll-Free Dial-In Number: 844-891-8300; Conference ID: 817 247 369#) to determine:  (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated July 22, 2020 (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel's application for an award of attorneys' fees and expenses should be approved.  In the event that there are any changes to the time, date, or method of the Settlement Hearing, such changes will be posted on the Settlement website at www.aeternasecuritieslitigation.com.

If you are a member of the Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Net Settlement Fund.  If you have not yet received the Notice and Proof of Claim and Release ("Claim Form"), you may obtain copies of these documents by contacting the Claims Administrator at: Aeterna Zentaris, Inc. Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Ste. 205, Media, PA 19063, toll-free: (866) 274-4004, fax: (610) 565-7985, info@strategicclaims.net.  Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.aeternasecuritieslitigation.com.

If you are a member of the Class, in order to be eligible to receive a payment from the Settlement, you must submit a Claim Form to the Claims Administrator postmarked no later than January 26, 2021.  If you are a Class Member and do not submit a proper Claim Form, you will not be eligible to receive a payment from 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 Class and wish to exclude yourself from the Class, you must submit a request for exclusion such that it is received no later than January 26, 2021 by the Claims Administrator, in accordance with the instructions set forth in the Notice.  If you properly exclude yourself from the 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 receive a payment from the Settlement.

Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel's motion for attorneys' fees and expenses must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than January 26, 2021, in accordance with the instructions set forth in the Notice.

Please do not contact the Court, the Office of the Clerk of the Court, Aeterna or any other Defendants, or their counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to the Claims Administrator or Lead Counsel.

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

Aeterna Zentaris, Inc. Securities Litigation
c/o Strategic Claims Services
P.O. Box 230
600 N. Jackson St., Ste. 205
Media, PA 19063
Toll-Free: (866) 274-4004
Fax: (610) 565-7985
info@strategicclaims.net

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

Laurence Rosen, Esq.
The Rosen Law Firm, P.A.
One Gateway Center, Suite 2600
Newark, NJ 07102
(973) 313-1887
info@rosenlegal.com

-AND-

Kara Wolke, Esq.
Glancy Prongay & Murray LLP
1925 Century Park East, Ste. 2100
Los Angeles, CA 90067
(888) 773-9224
settlements@glancylaw.com

By Order of the Court

1 Certain persons and entities are excluded from the Class by definition, as set forth in the full Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys' Fees and Litigation Expenses (the "Notice"), available at www.aeternasecuritieslitigation.com.

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SOURCE The Rosen Law Firm, P.A.; Glancy Prongay & Murray LLP

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