The Rosen Law Firm, P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Securities of Cocrystal Pharma, Inc. and/or BioZone Pharmaceuticals, Inc. – COCP

NEWARK, N.J., Sept. 07, 2020 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces 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 Cocrystal Pharma, Inc. and/or BioZone Pharmaceuticals, Inc. COCP:

SUMMARY NOTICE OF PENDENCY
AND PROPOSED SECURITIES CLASS ACTION SETTLEMENT

TO: ALL PERSONS WHO PURCHASED OR ACQUIRED THE PUBLICLY TRADED SECURITIES OF COCRYSTAL PHARMA, INC. AND/OR BIOZONE PHARMACEUTICALS, INC. BETWEEN SEPTEMBER 23, 2013 AND SEPTEMBER 7, 2018, BOTH DATES INCLUSIVE.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the District of New Jersey, that a hearing will be held on December 16, 2020, at 2:00 p.m. before the Honorable Kevin McNulty, United States District Judge of the District of New Jersey, 50 Walnut Street, Courtroom PO 04, Newark, New Jersey 07102 for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $1,265,000 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Lead Counsel for attorneys' fees of up to one-third of the Settlement Amount ($421,666.66) plus a proportionate share of interest accrued on the Settlement Amount, Lead Counsel's reimbursement of litigation expenses incurred of not more than $65,000, and Awards to Plaintiffs of not more than $15,000 in total, should be approved; and (4) whether the Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement, fully executed on August 17, 2020 (the "Settlement Stipulation"). The Court reserves the right to hold the Settlement Hearing telephonically or by other virtual means.

The proposed Settlement would resolve the Action alleging that, in violation of the federal securities laws, Defendants (1) allegedly made misrepresentations and/or omissions of material fact in various public statements concerning an alleged scheme to inflate the price of securities of Cocrystal Pharma, Inc.'s ("Cocrystal" or the "Company") predecessor, BioZone Pharmaceuticals, Inc. ("BioZone") and an alleged undisclosed related party transaction, and (2) allegedly manipulated the market for BioZone securities. Defendants deny the allegations.

If you purchased or acquired the publicly traded securities of Cocrystal and/or BioZone between September 23, 2013 and September 7, 2018, both dates inclusive ("Settlement Class Period"), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Cocrystal securities. You may obtain copies of the detailed Notice of Pendency and Proposed Settlement of Securities Class Action ("Notice") and the Proof of Claim and Release Form by writing to or calling the Claims Administrator: Cocrystal Pharma, Inc. Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 205, P.O. Box 230, Media, PA 19063; (Tel) (866) 274-4004; (Fax) (610) 565-7985; info@strategicclaims.net. You can also download copies of the Notice and submit your Proof of Claim and Release Form online at www.strategicclaims.net. If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form electronically or postmarked no later than November 16, 2020 to the Claims Administrator, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim. 

If you are a Settlement Class Member and desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received no later than November 25, 2020, in the manner and form explained in the detailed Notice. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Settlement Stipulation.

Any objection by a Settlement Class Member to the Settlement, Plan of Allocation, Lead Counsel's requests for an award to Lead Counsel of attorneys' fees and reimbursement of expenses and Awards to Plaintiffs must be in the manner and form explained in the detailed Notice and received no later than November 25, 2020, by each of the following:

If you have any questions about the Settlement, you may call or write to Lead Counsel:

THE ROSEN LAW FIRM, P.A.
Phillip Kim
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
pkim@rosenlegal.com

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.