Securities Class Action against OrthoClear Holdings, Inc, and 3i Technology Partners

Message Regarding Orthoclear's Sept 6 Letter

We have been receiving questions about the new letter from OrthoClear, which gives shareholders until September 27 to cash a check and release all claims.

At our insistence, OrthoClear’s letter tells you that settlement talks have reopened and there will soon be a mediation. A retired judge or other professional will serve as mediator. OrthoClear refused to extend its arbitrary September 27 deadline until after the mediation. It also refused to inform potential class members that we strongly oppose requiring investors to decide whether or not to release OrthoClear before the mediation has even taken place.

Our earlier email to individuals who contacted us set forth our view of OrthoClear’s offer. That view has not changed. If you did not receive the email, please contact us, and we will forward a copy to you.

About attorneys’ fees:

OrthoClear suggests that you will do better to settle now and sidestep attorneys’ fees on your share. If the case is resolved as a class action, fees will be awarded based on the size of the recovery and the effort expended by the lawyers. They must be publicly disclosed and approved by the Court.

About the Court’s order:

The Court ruled that at this point it does not have sufficient evidence of misconduct before it to intervene in OrthoClear’s communications with potential class members. However, the Court stated that it understood our concerns about the potential coerciveness of OrthoClear’s offer in this context. It also encouraged the parties to cooperate in future communications. Unfortunately, OrthoClear has refused to do that.

Click here for a full copy of the Order.

We will be back in touch with an update about the case status before the new deadline arrives. If you want further information, please do not hesitate to contact us by phone at 415-217-7300 or email us at info@sparerlaw.com.

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