Bleichmar Fonti & Auld LLP Announce a Proposed Class Action Settlement Involving Purchasers of Teva Pharmaceutical Securities

BRIDGEPORT, Conn., Feb. 21, 2022 /PRNewswire/ --

UNITED STATES DISTRICT COURT
DISTRICT OF CONNECTICUT

SUMMARY NOTICE OF PENDENCY AND
PROPOSED SETTLEMENT OF CLASS ACTION

TO: Purchasers and acquirers in domestic transactions of Teva Pharmaceutical Industries Ltd. ("Teva") American Depositary Shares, Teva 7.00% mandatory convertible preferred shares, and/or certain Teva Pharmaceutical Finance Netherlands III B.V. ("Teva Finance") U.S.-dollar-denominated senior notes during the period from February 6, 2014 through May 10, 2019, inclusive.

IF YOU PURCHASED OR ACQUIRED TEVA SECURITIES (DEFINED BELOW) FROM FEBRUARY 6, 2014 THROUGH MAY 10, 2019, INCLUSIVE, YOUR RIGHTS MAY BE AFFECTED BY A PROPOSED SETTLEMENT IN THIS LITIGATION (THE "LITIGATION").

THIS SUMMARY NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS SUMMARY NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED that a hearing will be held on June 2, 2022, at 10:00 a.m., before the Honorable Stefan R. Underhill, United States District Judge, at the United States District Court for the District of Connecticut (the "Court"), Brien McMahon Federal Building, 915 Lafayette Boulevard, Bridgeport, CT 06604 for the purpose of determining: (1) whether the proposed settlement of the Litigation, as set forth in the Stipulation dated January 18, 2022, consisting of Four Hundred and Twenty Million U.S. dollars ($420,000,000) in cash, should be approved as fair, reasonable, and adequate to the Settlement Class Members; (2) whether the proposed plan to distribute the Net Settlement Fund (the "Plan of Allocation") is fair, reasonable, and adequate; (3) whether the applications by Class Counsel for attorneys' fees and expenses should be approved; (4) whether Class Representatives should receive awards pursuant to 15 U.S.C. § 78u-4(a)(4) in connection with their representation of the Settlement Class and, if so, in what amount; and (5) whether the proposed Judgment should be entered.

The Litigation has been certified as a class action on behalf of all persons and entities (with certain exclusions) who purchased or acquired Teva Securities from February 6, 2014 through May 10, 2019, inclusive. The "Teva Securities" are: Teva Pharmaceutical Industries Ltd. ("Teva") American Depositary Shares ("ADS") (ISIN No. US8816242098; CUSIP 881624209), Teva 7% mandatory convertible preferred shares ("Preferred Shares") (ISIN No. IL0062905489; CUSIP M8769Q 136), and the following Teva Pharmaceutical Finance Netherlands III B.V. ("Teva Finance") U.S.-dollar-denominated senior notes: 1.400% Senior Notes due July 20, 2018 (ISIN US88167AAA97; CUSIP 88167A AA9); 1.700% Senior Notes due July 19, 2019 (ISIN US88167AAB70; CUSIP 88167A AB7); 2.200% Senior Notes due July 21, 2021 (ISIN US88167AAC53; CUSIP 88167A AC5); 2.800% Senior Notes due July 21, 2023 (ISIN US88167AAD37; CUSIP 88167A AD3); 3.150% Senior Notes due October 1, 2026 (ISIN US88167AAE10; CUSIP 88167A AE1); and 4.100% Senior Notes due October 1, 2046 (ISIN US88167AAF84; CUSIP 88167A AF8) (collectively, the "Notes").

A detailed description of the Litigation, including important information about your rights and options, is in the detailed Long-Form Notice of Pendency and Proposed Settlement of Class Action (the "Long-Form Notice"), available at www.TevaSecuritiesLitigation.com or by contacting the Claims Administrator at: Epiq Class Action & Claims Solutions, Inc., In re Teva Securities Litigation, P.O. Box 3565, Portland, OR 97208-3565, Telephone: (855) 675-3124, or 1-503-520-4435 outside the U.S. and Canada.

To be eligible for a payment from the Net Settlement Fund you must submit a Proof of Claim and Release Form electronically submitted or postmarked by no later than May 17, 2022. To obtain a copy of the Proof of Claim and Release Form, visit www.TevaSecuritiesLitigation.com or contact the Claims Administrator at the address above. Failure to submit your Proof of Claim and Release Form by May 17, 2022 will subject your claim to possible rejection and may preclude you from receiving any payment from the settlement. 

To be excluded from the settlement, you must submit a written request for exclusion, in accordance with all of the instructions in the Long-Form Notice, electronically submitted or postmarked no later than May 2, 2022. If you request exclusion, you will not receive any payment from the settlement.

If you are a Settlement Class Member and you do nothing, you will not share in the proceeds of the settlement, but you will be bound by the settlement and shall have fully released all of the Released Claims against the Released Defendants.

Direct Action Plaintiffs are those plaintiffs who retained counsel and filed with the Court one of the lawsuits listed in Appendix B to the Long-Form Notice. The foregoing deadlines do not apply to the Direct Action Plaintiffs. Direct Action Plaintiffs who wish to participate in the settlement must take certain steps, specified in the Long-Form Notice, no later than May 2, 2022.

To object to any aspect of the settlement, the Plan of Allocation, the application for attorneys' fees and expenses, or Class Representatives' request for awards pursuant to 15 U.S.C. § 78u-4(a)(4), you must submit a written objection in accordance with all of the instructions in the Long-Form Notice that is received or filed, not simply postmarked, on or before May 12, 2022. If you object, but also want to be eligible for a payment, you must submit a timely Proof of Claim and Release Form.

Inquiries, other than requests for the Long-Form Notice, may be made by emailing Class Counsel at [email protected] or contacting:

Joseph A. Fonti
Bleichmar Fonti & Auld LLP
7 Times Square, 27^th Floor
New York, New York 10036
Telephone: (888) 879-9418

PLEASE DO NOT CONTACT THE COURT OR THE OFFICE OF THE CLERK
WITH QUESTIONS REGARDING THIS LITIGATION OR THIS NOTICE.

Dated: February 21, 2022

BY ORDER OF THE COURT:
United States District Court for the
District of Connecticut

URL// www.TevaSecuritiesLitigation.com

SOURCE Bleichmar Fonti & Auld LLP