|SUPERIOR COURT FOR THE STATE OF CALIFORNIA|
|FOR THE COUNTY OF ALAMEDA|
|THE PENNSYLVANIA AVENUE FUNDS, individually and on behalf of all others similarly situated,|
|Case No. RG09470224|
|NOTICE OF PENDENCY AND SETTLEMENT OF CLASS ACTION|
|AVIGEN, INC.; ZOLA HOROVITZ; JOHN K.A. PRENDERGAST; KENNETH CHAHINE; RICHARD WALLACE; JAN K. ÖHRSTRÖM; STEPHEN G. DILLY; MEDICINOVA, INC.|
MediciNova, Inc., a biopharmaceutical company publicly traded on the Nasdaq Global Market (NASDAQ: MNOV) and the Hercules Market of the Osaka Securities Exchange (OSAKA: 4875), today releases the notice of pendency and settlement of class action seen below:
This notice (the “Notice”) provides you with important information in connection with the settlement (the “Settlement”) of a civil action concerning the acquisition of Avigen, Inc. (“Avigen”) by MediciNova, Inc. (“MediciNova”). Your legal rights may be affected by this Notice and the proceedings in this litigation, whether you act or do not act. You should read this Notice carefully.