Claims Administrator Angeion Group Announces Proposed Settlement in Insys Therapeutics Class Action

Jul 08, 2015, 08:00 ET from Angeion Group

PHILADELPHIA, July 8, 2015 /PRNewswire/ --

 

UNITED STATES DISTRICT COURT
DISTRICT OF ARIZONA


Derick Larson,

                        Plaintiff,

                        v.

Insys Therapeutics Incorporated, et al.,

                        Defendants.

 


Lead Case No. CV-14-01043-GMS

Consolidated with:

No. CV-14-01077-GMS

 

 

SUMMARY NOTICE OF PENDENCY
AND PROPOSED SETTLEMENT OF
CLASS ACTION

Hongwei Li,

 

                        Lead Plaintiff,

                        v.

Insys Therapeutics Incorporated, et al.,

                        Defendants.

 




TO:  ALL PERSONS WHO PURCHASED PUBLICLY TRADED SHARES OF INSYS THERAPEUTICS, INC. COMMON STOCK BETWEEN NOVEMBER 12, 2013, AND MAY 14, 2014, INCLUSIVE, AND INCURRED DAMAGES (THE "CLASS").

YOU ARE HEREBY NOTIFIED that a settlement, in the amount of Six Million, One-Hundred Twenty-Five Thousand Dollars ($6,125,000.00) in cash, has been proposed in the above-captioned class action.  A hearing will be held before the Honorable G. Murray Snow in the United States District Court for the District of Arizona, 401 West Washington Street, Phoenix, AZ 85003, at 9:00 a.m. on December 4, 2015, to determine: (i) whether the Settlement and Plan of Allocation should be approved by the Court as fair, reasonable, adequate, and in the best interests of the Settlement Class; (ii) whether Lead Counsel's application for an award of attorneys' fees (of not more than 30% of the Settlement Fund) and reimbursement of expenses (of not more than $75,000) should be approved; (iii) whether the Court should grant the Lead Plaintiff's reimbursement (of not more than $2,500) for his reasonable costs and expenses (including lost wages) directly related to his representation of the Settlement Class; and (iv) whether the Court should approve the release of Released Claims and the Released Defendants' Claims against any and all Released Persons and dismiss the Action with prejudice.

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND.  If you have not yet received the full printed Notice of Proposed Settlement of Class Action, Motion for Attorneys' Fees and Reimbursement of Expenses, and Settlement Fairness Hearing (the "Mailed Notice") and Proof of Claim and Release form you may obtain copies of these documents by downloading them from www.InsysSecuritiesLitigation.com, or by contacting:

Insys Therapeutics Securities Settlement
c/o Angeion Group
1801 Market Street, Suite 660
Philadelphia, PA 19103
Insys@AngeionGroup.com

Inquiries, other than requests for of the Mailed Notice or Proof of Claim and Release form, may be made to Lead Counsel:

Lionel Z. Glancy
Glancy Prongay & Murray LLP
1925 Century Park East, Suite 2100
Los Angeles, California 90067
Telephone: 1-888-773-9224
Email: settlements@glancylaw.com

To participate in the Settlement, you must submit a Proof of Claim and Release no later than October 28, 2015.  As more fully described in the Mailed Notice, the deadline for submitting objections to the Settlement and requests for exclusions from the Class is November 13, 2015. Further information may also be obtained by directing your inquiry in writing to the Claims Administrator, Angeion Group, at the address listed above. PLEASE DO NOT CONTACT THE COURT REGARDING THIS NOTICE. By Order of the Court

Media Contact:
Angeion Group
Douglas S. Clauson
Director, Communications
(215) 563-4116

SOURCE Angeion Group



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