Gambler: You are correct. Shortly after the case was commenced, the trial judge approved the "class" members as shareholders who purchased CYDY stock between March 27, 2020 and May17, 2021.
Craig is correct that shareholders meeting the class membership purchasing requirements are automatically "in" and are not technically required to opt in, but such shareholders are typically required to verify their stock purchases by date and volume and can also choose to opt out for whatever reason. That would be the subject matter of the contact from the plaintiff' law firm.
The legal fees awarded to the plaintiffs' law firm will be set by the judge. I would be surprised if it is one-third. My guess would be 20 to 25%, but it is also possible that the parties agreed to a proposed fee as part of the settlement agreement and, if so, the judge would almost surely approve the parties' fee proposal.
Craig is correct that shareholders meeting the class membership purchasing requirements are automatically "in" and are not technically required to opt in, but such shareholders are typically required to verify their stock purchases by date and volume and can also choose to opt out for whatever reason. That would be the subject matter of the contact from the plaintiff' law firm.
The legal fees awarded to the plaintiffs' law firm will be set by the judge. I would be surprised if it is one-third. My guess would be 20 to 25%, but it is also possible that the parties agreed to a proposed fee as part of the settlement agreement and, if so, the judge would almost surely approve the parties' fee proposal.
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