Glancy Prongay & Murray LLP Announces Proposed Settlement of Epocrates, Inc. Securities Litigation

17 Feb, 2016, 11:00 ET from Glancy Prongay & Murray LLP

SAN FRANCISCO, Feb. 17, 2016 /PRNewswire/ -- The following statement is being issued by Glancy Prongay & Murray LLP regarding the Epocrates, Inc. Securities Litigation:

UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
SAN FRANCISCO DIVISION

POLICE AND FIRE RETIREMENT SYSTEM OF

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Case No. 13-cv-00945-VC

THE CITY OF DETROIT, Individually and on Behalf

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of All Others Similarly Situated,

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Plaintiff,

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                    vs.

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ROSEMARY A. CRANE, PATRICK D.

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SPANGLER, and EPOCRATES, INC.,

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Defendants.

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SUMMARY NOTICE

TO:     ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED EPOCRATES, INC. COMMON STOCK BETWEEN FEBRUARY 1, 2011, THROUGH AUGUST 9, 2011, INCLUSIVE

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of California, that a hearing will be held on May 12, 2016, at 10:00 a.m., before the Honorable Vince G. Chhabria, at the San Francisco Courthouse, 450 Golden Gate Avenue, Courtroom 4 - 17th Floor, San Francisco, California 94102, for the purpose of determining: (1) whether the proposed Settlement of the claims in the Litigation for the sum of $5.1 million in cash should be approved by the Court as fair, reasonable, and adequate to Settlement Class Members; (2) whether to certify the Settlement Class; (3) whether, thereafter, this Litigation should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation of Settlement dated October 30, 2015; (4) whether the proposed plan to distribute the Settlement proceeds (the "Plan of Allocation") is fair, reasonable, and adequate and therefore should be approved; (5) whether the application of Lead Counsel for the payment of attorneys' fees and expenses incurred in connection with this Litigation should be approved; (6) whether the Court should grant Lead Plaintiff's reimbursement of its reasonable costs and expenses (including lost wages) directly related to its representation of the Settlement Class; and (7) any other matters relevant to the Settlement that the Court considers necessary or appropriate (the "Settlement Hearing").  The Court has reserved the right to reschedule the hearing from time to time without further notice.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not received a detailed Notice of Proposed Settlement of Class Action, Motion for Attorneys' Fees and Expenses and Settlement Hearing (the "Notice"), and a copy of the Proof of Claim and Release form, you may obtain copies by writing to the Claims Administrator at the address below. Copies of the Notice and Claim Form are also available at www.epocratessecuritieslitigation.com.

To be eligible to participate in the proposed Settlement, you must have purchased or otherwise acquired the common stock of Epocrates, Inc. from February 1, 2011, through August 9, 2011, inclusive, and not be excluded either by definition or by filing a request for exclusion (the "Settlement Class"). Further, to be eligible to participate in the proposed Settlement, you will be required to submit a Proof of Claim and Release postmarked by May 13, 2016 in accordance with the instructions set forth in the Notice.

If you are a member of the Settlement Class and do not exclude yourself, you will be bound by any judgment entered in the Litigation whether or not you make a claim. To exclude yourself from the Settlement Class, you must submit a request for exclusion that is postmarked no later than April 21, 2016, in accordance with the instructions set forth in the Notice.

Any objections to the Settlement, the Plan of Allocation, Lead Counsel's Fee and Expense Award, or the Lead Plaintiff Cost and Expense Award must be filed with the Court and postmarked to counsel identified in the Notice no later than April 21, 2016. All objections must be prepared and submitted in accordance with the instructions set forth in the Notice. If you are a Settlement Class Member and do not submit a proper Proof of Claim and Release form, you will not share in the proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Litigation.

This notice provides only a summary of matters regarding the Litigation and the Settlement. A more complete notice has been mailed to persons and entities known to be potential Settlement Class Members regarding the Litigation, the proposed Settlement, and the right of Settlement Class Members to: (i) appear at the Settlement Hearing; (ii) request to be excluded from the Settlement Class; and (iii) object to the Settlement, the Plan of Allocation, Lead Counsel's Fee and Expense Award, or the Lead Plaintiff Cost and Expense Award. You may obtain a copy of the Notice, Proof of Claim and Release form, and other information by writing to the following address or calling the following telephone number:

Epocrates, Inc. Securities Litigation
c/o Kurtzman Carson Consultants, LLC
Claims Administrator
P.O. Box 40007
College Station, TX 77842-4007
1-844-861-5483)

You may also access these documents from the following website:  www.epocratessecuritieslitigation.com.

Inquiries, other than requests for copies of the Notice and Proof of Claim and Release or for inclusion on the mailing list for future notices, may be directed to Joshua L. Crowell, Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, (T) (310) 201-9150, (F) (310) 432-1495, info@glancylaw.com, www.glancylaw.com.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE

Dated: December 15, 2015

BY ORDER OF THE COURT

 

SOURCE Glancy Prongay & Murray LLP



RELATED LINKS

http://www.epocratessecuritieslitigation.com