Claims Administrator Angeion Group Announces Settlement in Silverstrand Investments v. AMAG Pharmaceuticals, Inc. Litigation

News provided by

Oct 31, 2014, 08:00 ET

PHILADELPHIA, Oct. 31, 2014 /PRNewswire/ -- Angeion Group today announced that a settlement has been reached in a class action lawsuit against AMAG Pharmaceuticals, Inc. titled Silverstrand Investments et al. v. AMAG Pharmaceuticals, Inc. et al., in the United States District Court , District of Massachusetts, C.A. No. 10-CV-10470-NMG.

The Notice of Proposed Settlement applies to all persons who purchased or acquired AMAG Pharmaceuticals, Inc. ("AMAG") Common Stock pursuant and/or traceable to the January 21, 2010 offering. Pursuant to an Order of the United States District Court for the District of Massachusetts, a hearing will be held on January 30, 2015, at 11:00 a.m., before the Honorable Nathaniel M. Gorton, United States District Judge, at the United States District Court for the District of Massachusetts, 1 Courthouse Way, Courtroom 4, Boston, Massachusetts 02110, for the purpose of determining: whether the proposed Settlement of the Action entitled Silverstrand Investments et al. v. AMAG Pharmaceuticals, Inc. et al., C.A. No. 10-CV-10470-NMG, for the sum of $3,750,000 in cash should be approved by the Court as fair, reasonable, and adequate; whether the Court should approve the Plan of Allocation of Settlement proceeds as fair, reasonable, and adequate; whether Lead Counsel's application for the payment of attorneys' fees and expenses incurred in connection with this Action, together with interest thereon, should be approved; whether and in what amount Lead Plaintiffs should be paid for their expenses in representing the Settlement Class; and (5) whether the Court should enter the Final Order and Judgment dismissing the Action with prejudice.

If you purchased or acquired AMAG Common Stock pursuant and/or traceable to the January 21, 2010 Offering, your rights may be affected by this Action and the Settlement thereof. If you have not received a detailed Notice of Proposed Settlement of Class Action and a copy of the Proof of Claim and Release form, you may obtain copies by writing to AMAG Pharmaceuticals Sec. Litig, c/o Angeion Group, 1801 Market Street, Suite 660, Philadelphia, PA 19103, or by downloading this information at www.amagsecuritiessettlement.com.

If you are a Settlement Class Member and wish to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release form postmarked no later than December 30, 2014, establishing that you are entitled to a recovery. If you fail to file a valid Proof of Claim and Release form by the specified deadline, you will not recover from the Net Settlement Fund, but you will nevertheless be bound by the Settlement and releases provided for therein and by the Court's judgment of dismissal of the Action.

If you are a Settlement Class Member and wish to object to any aspect of the Settlement or to Lead Counsel's Fee and Expense Application, you must file your written objection with the Clerk of the Court and provide a copy of your objection to all counsel listed below no later than January 9, 2015. Only Settlement Class Members who have filed and delivered valid and timely written notices of objection will be entitled to be heard at the hearing on January 30, 2015.

Notwithstanding any objection you may submit, you will be bound by the Settlement and releases provided for therein and by the Court's judgment of dismissal of the Action unless you request to be excluded from the Settlement Class. To request exclusion from the Settlement Class, you must deliver a written request for exclusion no later than January 9, 2015. The exclusion request should be delivered to the Claims Administrator and Lead Counsel at the addresses listed below. If you request exclusion from the Settlement Class, you will not be required to waive or release any claims against Defendants, you will not receive any payment or other benefit in the Settlement, and you will not be bound by the terms of the Settlement or any other order that may be entered by the Court in the Action.

Contacts:
AMAG Pharmaceuticals Securities Litigation:
c/o Angeion Group
1801 Market Street, Suite 660
Philadelphia, PA 19103
800-247-8644

Lead Counsel:
Abraham, Fruchter & Twersky, LLP
Ian D. Berg
12526 High Bluff Drive, Suite 300
San Diego, CA 92130
858-792-3448

SOURCE Angeion Group