Pomerantz LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of the Securities of Baxano Surgical, Inc. f/k/a TranS1, Inc.

From Businesswire:

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 Eastern District of North Carolina, Southern Division, that a hearing will be held on November 19, 2018, at 2:00 p.m. before the Honorable James C. Dever III, Chief United States District Judge of Eastern District of North Carolina at the United States courthouse, 310 New Bern Avenue, Raleigh, North Carolina 27611 for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of three million two hundred fifty thousand ($3,250,000.00) in U.S. dollars (“USD”) (the “Settlement Amount”) should be approved by the Court as fair, reasonable, and adequate; (2) whether the Plan of Allocation is fair and reasonable, and should be approved; (3) whether Lead Counsel’s application for an award of attorneys’ fees of up to 30% plus interest of the Settlement Amount, reimbursement of out-of-pocket expenses of not more than seventy-five thousand dollars ($75,000.00), and a compensatory award for Plaintiff of not more than three thousand dollars ($3,000.00), all to be paid from the Settlement Fund, should be approved; and (4) whether this Action should be dismissed with prejudice against the Defendants, as set forth in the Stipulation and Agreement of Settlement dated May 18, 2018 (the “Stipulation”) filed with the Court.

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