Settlement Information

Settlement Information

On September 6, 2022, Sesen Bio, Inc. (the “Company”) announced that the U.S. District Court for the District of Massachusetts issued an order on September 2, 2022 granting preliminary 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. The court has set a final settlement approval hearing for November 8, 2022 at 2:00 p.m. local time.

Copies of (i) the Notice of Pendency and Proposed Settlement of Stockholder Derivative Actions and (ii) the Stipulation of Settlement related to the Derivative Litigation are filed with the Company’s Current Report on Form 8-K, filed September 6, 2022, and are available here: https://ir.sesenbio.com/static-files/397f1a1d-4a13-4edd-9288-fc3265fcea8a

Stockholders may attend the final approval hearing remotely. The Court will make a Zoom link available prior to the date of the hearing. To gain access to the hearing, you must sign up here: https://forms.mad.uscourts.gov/courtlist.html

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