Item 8.01. Other Events.
On November 9, 2022, Sesen Bio, Inc. (the "Company") announced that the U.S.
District Court for the District of Massachusetts (the "Court") issued an order
on November 8, 2022 granting final approval of the proposed settlement of the
previously disclosed consolidated derivative lawsuits captioned In re Sesen Bio,
Inc. Derivative Litigation, Lead Case No. 1:21-cv-11538, the derivative lawsuit
captioned Tang v. Sesen Bio, Inc., et al., Case No. 2281-cv-00135 and other
potential related derivative claims (collectively, the "Derivative Litigation"),
in accordance with the Stipulation of Settlement that the Company disclosed in a
Current Report on Form 8-K dated August 30, 2022. As previously disclosed, the
Court issued an order on September 2, 2022 granting preliminary approval of the
proposed settlement of the Derivative Litigation. The terms of the settlement of
the Derivative Litigation are more fully described in the Company's Current
Report on Form 8-K dated August 30, 2022.
As disclosed on October 4, 2022, the U.S. District Court for the Southern
District of New York has set a final settlement approval hearing for January 23,
2023 at 10:00 a.m. local time for the previously disclosed consolidated
shareholder class action captioned In re Sesen Bio, Inc. Securities Litigation,
Master File No. 1:21-cv-07025-AKH in accordance with the Stipulation and
Agreement of Settlement that the Company disclosed in a Current Report on Form
8-K dated August 17, 2022.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This Current Report on Form 8-K contains forward-looking statements, including,
but not limited to, statements regarding the potential outcome and timing of the
final decision by the U.S. District Court for the Southern District of New York
regarding the proposed settlement of the Securities Litigation, which are based
on the Company's current expectations and inherently involve significant risks
and uncertainties. The Company's actual results and the timing of events could
differ materially from those anticipated in such forward-looking statements as a
result of these risks and uncertainties, including the risk that the U.S.
District Court for the Southern District of New York may not grant final
approval of the proposed settlement in accordance with the Stipulation and
Agreement of Settlement to the Securities Litigation, among other risks and
uncertainties. A further description of the risks and uncertainties relating to
the business of the Company is contained in the Company's most recent annual
report on Form 10-K and the Company's quarterly reports on Form 10-Q, as well as
any amendments thereto reflected in subsequent filings with the Securities and
Exchange Commission. The Company undertakes no duty or obligation to update any
forward-looking statements contained in this report as a result of new
information, future events or changes in its expectations.
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