NEW YORK, Feb. 5, 2016 /PR Newswire/ -- The following statement is being issued by Scott + Scott, Attorneys at Law, LLP and Motley Rice LLC regarding the Wyeth SAC Capital Shareholders Litigation Settlement.
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
BIRMINGHAM RETIREMENT AND RELIEF SYSTEM, et al.,
S.A.C. CAPITAL ADVISORS, L.P., et al.,
No. 13 Civ. 2459 (VM) (KNF)
SUMMARY NOTICE OF (I) PROPOSED SETTLEMENT OF CLASS ACTION AND PLAN OF ALLOCATION; (II) SETTLEMENT FAIRNESS HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: (a) All persons or entities who sold shares of Wyeth common stock during the period January 14, 2008 through and including July 18, 2008; and (b) All persons or entities who purchased shares of Wyeth common stock during the period July 21, 2008 through and including July 29, 2008 at 4:00 p.m. EDT (the "Class").
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 THE SETTLEMENT OF A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
YOU ARE HEREBY NOTIFIED that a hearing will be held on June 3, 2016 at 11:00 a.m., before the Honorable Victor Marrero at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, Courtroom 11B, New York, New York, 10007-1312, to determine whether: (1) the proposed settlement (the "Settlement") of the above-captioned action ("Action") for $10,000,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) the Final Judgment as provided under the Stipulation and Agreement of Settlement ("Stipulation") should be entered, dismissing the Action on the merits and with prejudice; (3) the release by the Class of the Released Wyeth Lead Plaintiffs' Claims, as set forth in the Stipulation, should be provided to the SAC Capital Defendants' Releasees; (4) this Action satisfies the applicable prerequisites for class action treatment under Rule 23 of the Federal Rules of Civil Procedure; (5) to award Lead Counsel attorneys' fees and litigation expenses out of the Settlement Fund (as defined in the Notice of Proposed Settlement of Class Action ("Notice"), which is discussed below); (6) to grant the Wyeth Lead Plaintiffs' requests for reimbursement of their costs and expenses incurred, in connection with their role in prosecuting this action on behalf of the Class out of the Settlement Fund; and (7) the Plan of Allocation should be approved by the Court.
IF YOU SOLD WYETH SHARES BETWEEN JANUARY 14, 2008 THROUGH AND INCLUDING JULY 18, 2008 OR YOU PURCHASED WYETH SHARES DURING THE PERIOD JULY 21, 2008 THROUGH AND INCLUDING JULY 29, 2008 AT 4 P.M. EDT, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS ACTION.
To share in the distribution of the Settlement Fund, you must establish your rights by filing a Proof of Claim on or before May 21, 2016. Your failure to submit your Proof of Claim by May 21, 2016 will subject your claim to rejection and preclude your receiving any of the recovery in connection with the Settlement of this Action. If you are a Member of the Class and do not request exclusion therefrom, you will be bound by the Settlement and any judgment and release entered in the Action, including, but not limited to, the Final Judgment, whether or not you submit a Proof of Claim.
If you have not received a copy of the Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement), and a Proof of Claim form, you may obtain these documents, as well as a copy of the Stipulation (which, among other things, contains definitions for the defined terms used in this Summary Notice), online at www.Wyethsaccapitalsecuritieslitigation.com, or by writing to:
Wyeth SAC Capital Shareholders Litigation Settlement
c/o Heffler Claims Group
P.O. Box 58697
Philadelphia, PA 19102-8697
Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court.
Inquiries, other than requests for the Notice or for a Proof of Claim form, may be made to Wyeth Lead Counsel:
SCOTT+SCOTT, ATTORNEYS AT LAW, LLP
The Chrysler Building
405 Lexington Avenue, 40th Floor
New York, NY 10174
Tel: (212) 223-6444
MOTLEY RICE LLC
Gregg S. Levin
28 Bridgeside Boulevard
Mt. Pleasant, South Carolina 29464
Tel: (843) 216-9000
IF YOU DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION BY MAY 4, 2016, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE. ALL MEMBERS OF THE CLASS WHO HAVE NOT REQUESTED EXCLUSION FROM THE CLASS WILL BE BOUND BY THE SETTLEMENT ENTERED IN THE ACTION EVEN IF THEY DO NOT FILE A TIMELY PROOF OF CLAIM.
Dated: February 5, 2016
SOURCE Scott + Scott, Attorneys at Law, LLP and Motley Rice LLC