Artificial Inflation in Portola Common Stock From To Per-Share Price Inflation Sample Clauses

Artificial Inflation in Portola Common Stock From To Per-Share Price Inflation. Alleged By Plaintiffs 1/8/2019 1/9/2020 $12.43 1/10/2020 2/26/2020 $2.56 2/27/2020 2/28/2020 $0.82 3/2/2020 Thereafter $0.00 Portola Common Stock purchased in and/or traceable to the Company’s secondary public offering on or about August 14, 2019 (the “August 2019 Offering”), are the only securities eligible for a claim under the Securities Act. The Recognized Loss for Common Stock with a claim under both the Exchange Act and the Securities Act shall be the maximum of: (i) the Recognized Loss amount calculated under the Exchange Act as described below in “Calculating Recognized Loss Per Share Under the Exchange Act”; or (ii) the Recognized Loss amount calculated under the Securities Act as described below in “Calculating Recognized Loss Per Share Under the Securities Act.” The Securities Act provides for an affirmative defense of negative causation which prevents recovery for losses that Defendants prove are not attributable to misrepresentations and/or omissions alleged by Lead Plaintiff in the offering’s registration statement. Given Lead Counsel’s assessment of the relative risks of the Securities Act and Exchange Act claims in this lawsuit, the Recognized Loss calculation under the Securities Act assumes that the Company-specific declines in the price of Portola Common Stock on the Corrective Disclosure Impact Dates alleged by Lead Plaintiff are the only compensable losses. Questions? Call (000) 000-0000 (Toll Free) or visit xxx.XxxxxxxXxxxxxxxxxXxxxxxxxxx.xxx. The “90-day lookback” provision of the PSLRA is incorporated into the calculation of the Recognized Loss for Portola Common Stock under the Exchange Act. The limitations on the calculation of the Recognized Loss imposed by the PSLRA are applied such that losses on Portola Common Stock purchased during the Settlement Class Period and held as of the close of the 90-day period subsequent to the Settlement Class Period (the “90-Day Lookback Period”) cannot exceed the difference between the purchase price paid for such stock and its average price during the 90-Day Lookback Period. The Recognized Loss on Portola Common Stock purchased during the Settlement Class Period and sold during the 90-Day Lookback Period cannot exceed the difference between the purchase price paid for such stock and its rolling average price during the portion of the 90-Day Lookback Period elapsed as of the date of sale. In the calculations below, all purchase and sale prices shall exclude any fees, taxes, and commissions. If a...
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