TranS1 Inc (NASDAQ: TSON) Investor Securities Class Action Lawsuit 01/24/2012

You must submit the settlement "Proof" form attached below, in order to participate in this settlement. There is a strict deadline of January 2, 2019 by which all claims must be submitted. The instructions for submitting are included in the "Proof" and the "Notice" files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, FOLLOW THE DIRECTIONS IN THE "PROOF".

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Company Name(s): 
TranS1
Case Name: 
TranS1 Shareholder Class Action Lawsuit 01/24/2012
Case Status: 
Lawsuit Filed
Case Status: 
Settlement Proposed
Affected Securities
NASDAQ: TSON
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
01/24/2012
Class Period Begin: 
02/23/2009
Class Period End: 
10/17/2011
Court of Filing: 
U.S. District Court for the Eastern District of North Carolina
Deadline To File for Lead: 
03/26/2012
Date Settled: 
07/02/2018
Settlement Amount: 
$3,250,000
Deadline to Participate in Settlement: 
01/02/2019
Settlement Notice: 
Settlement Proof: 
Summary: 

July 2, 2018 - The court preliminarily approved the settlement.

May 22, 2018 - Parties filed a stipulation of settlement.

February 22, 2018 - The U.S. Court of Appeals for the fourth circuit vacated in part and affirmed in part the judgement of the district court and remanded the case to the district court for further proceedings.

December 16, 2015 - The lead plaintiff filed another notice of appeal.

December 8, 2015 - The court lifted the stay, allowed the defendants' motion to dismiss and dismissed the claims against the individual defendants with prejudice. The stay against TranS1 remains in effect. The court administratively closed the case.

May 18, 2015 - The lead plaintiff filed a notice of appeal.

May 14, 2015 - The court granted defendants' motion to dismiss. The lead plaintiff's claims against the individual defendants are dismissed with prejudice. The stay of the lead plaintiff's claims against TranS1 remains in effect.

October 17, 2013 - The lead plaintiff filed a motion to alter judgment.

September 19, 2013 - The court granted the defendants' motion to dismiss and ordered the case closed.

July 11, 2012 - The lead plaintiff filed an amended complaint on behalf of investors who purchased TranS1 Inc common shares between February 23, 2009 and October 17, 2011. The plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between February 23, 2009 and October 17, 2011.

May 8, 2012 - Lead plaintiff and lead counsel were appointed.

January 24, 2012 - An investor in shares of TranS1 Inc (NASDAQ: TSON now known as Baxano Surgical Inc and trading on the NASDAQ sheets as BAXS) filed a securities class action lawsuit in the U.S. States District Court for the Eastern District of North Carolina against TranS1 Inc over alleged Violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 21, 2008 and October 17, 2011.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased TranS1 Inc (NASDAQ: TSON) securities during the period between February 21, 2008 and October 17, 2011, that TranS1 Inc violated the Securities Exchange Act of 1934.

Despite that TranS1 Inc’s annual Revenue rose from $16.47 million in 2007 to $26.15 million in 2010, its Net Loss grew from $8.58 million in 2007 to $19.53 million in 2010. TranS1 Inc’s second quarter Revenue fell from $7.24 million last year to $5.34 million this year and its second quarter Net Loss grew from $3.65 million last year to a second quarter Net Loss in 2011 of $4.31 million.

Shares of TranS1 Inc (NASDAQ: TSON) fell from almost $25 in November 2007 to as low as $1.79 in December 2010. However, during the first months NASDAQ: TSON stocks climbed to over $5 per share and were able to trade for the most part above $4 per share until the beginning of September.

Then on October 17, 2011, TranS1 Inc disclosed in a filing with the U.S. Securities and Exchange Commission that on or about October 6, 2011, TranS1 Inc received a subpoena issued by the Department of Health and Human Services, Office of Inspector General, under the authority of the federal healthcare fraud and false claims statutes. TranS1 Inc said that the subpoena seeks documents for the period January 1, 2008 through October 6, 2011.

TranS1 Inc (NASDAQ: TSON) stocks fell from $3.17 per share on October 17, 2011 to $1.80 on October 18, 2011.

During November 2011 TranS1 Inc (NASDAQ: TSON) stocks fell to as low as $1.46 per share, but were able to regain some value in December 2011 and trade at $2.10.

On January 24, 2012, TranS1 Inc (NASDAQ: TSON) stocks closed at $2.26 per share.