Court-Ordered Summary Notice of Proposed Settlement of Class Action to All Persons Who (1) Sold Elan Corporation, plc ADRs Between August 23, 2006 and June 17, 2008, or (2) Purchased Elan ADRs or Call Options, or Sold Elan Put Options, Between July 21 and 29, 2008

NEW YORK, Jan. 23, 2017 /PRNewswire/ -- Pursuant to Court Order, A.B. Data, Ltd., as Claims Administrator, is issuing the following legal notice:

SUMMARY NOTICE OF (i) PROPOSED $135,000,000 CLASS ACTION SETTLEMENT AND PLAN OF ALLOCATION; (ii) SETTLEMENT FAIRNESS HEARING; AND (iii) APPLICATIONS FOR ATTORNEYS' FEES,
REIMBURSEMENT OF EXPENSES, AND PLAINTIFF COMPENSATORY AWARDS

THIS NOTICE WAS AUTHORIZED BY THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK.  IT IS NOT A LAWYER SOLICITATION.  PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.  YOUR RIGHTS WILL BE AFFECTED BY THIS SETTLEMENT.

YOU ARE HEREBY NOTIFIED that a hearing will be held on April 27, 2017 at 4:30 p.m., before the Honorable John G. Koeltl at the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, Courtroom 12B, New York, New York 10007, to determine whether: (1) the proposed settlement (the "Settlement") of the above-captioned Action for $135,000,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) the final judgment and orders of dismissal with prejudice as provided under the Stipulation and Agreement of Settlement should be entered, dismissing the Action on the merits and with prejudice; (3) the release by Class Members of claims, as set forth in the settlement agreement, should be authorized; (4) Plaintiffs' Counsel should be awarded attorneys' fees and reimbursement of expenses; (5) the request of the plaintiffs appointed on behalf of the Classes for reimbursement of their costs and expenses (including lost wages) should be approved; and (6) the proposed Plan of Allocation should be approved.

Please note that the date, time and location of the Settlement hearing are subject to change without further notice. If you plan to attend the hearing, you should check the docket or contact Class Counsel (identified below) to be sure that no change to the date, time, or location of the hearing has been made.

IF YOU (1) SOLD ELAN ADRs DURING THE PERIOD AUGUST 23, 2006 THROUGH AND INCLUDING JUNE 17, 2008 AT 2:00 AM EDT OR (2) PURCHASED ELAN ADRs, PURCHASED ELAN CALL OPTIONS, OR SOLD ELAN PUT OPTIONS DURING THE PERIOD JULY 21, 2008 THROUGH AND INCLUDING JULY 29, 2008 AT 4:00 PM EDT, YOUR RIGHTS WILL BE AFFECTED BY THIS SETTLEMENT. 

To share in the Settlement funds, you must submit a Claim Form postmarked, received or filed online no later than May 29, 2017.  Unless the deadline is extended, your failure to submit your Claim Form by that date will preclude you from receiving any payment from the Settlement.  If you are a Class Member and do not request exclusion from the Classes or have not already done so, you will be bound by the Settlement and any judgment and release entered in the Action, whether or not you submit a Claim Form.

If you have not received a copy of the Settlement Notice, which more completely describes the Settlement and your rights (including your right to request exclusion from the Classes and your right to object to the Settlement), you may obtain it and a Claim Form, as well as a copy of the Stipulation and Agreement of Settlement, online at www.sac-elan.com or by contacting the Claims Administrator.  Inquiries about filing a Claim Form should be directed to the Claims Administrator, and inquiries about the case may be made to Class Counsel.  The Claims Administrator and Class Counsel may be contacted as follows: 

Inquiries should NOT be directed to Defendants, the Court, or the Clerk of Court.

SOURCE A.B. Data, Ltd.