PHILADELPHIA, Oct. 18, 2019 /PRNewswire/ --
UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF PENNSYLVANIA
Civ. A. No. 2:17-CV-3711-TJS
SEB INVESTMENT MANAGEMENT AB,
ENDO INTERNATIONAL PLC, et al.,
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT; (II) MOTION FOR AN AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES; AND (III) SETTLEMENT FAIRNESS HEARING
This notice is directed to all persons and entities who purchased or otherwise acquired Endo International plc and/or Endo Health Solutions Inc. (together, "Endo") common stock or ordinary shares between November 30, 2012 and June 8, 2017, inclusive, and were damaged thereby ("Settlement Class"). Certain persons and entities are excluded from the Settlement Class as set forth in detail in the Stipulation and Agreement of Settlement dated August 22, 2019 ("Stipulation") and the Notice described below.
Please read this notice carefully; your rights will be affected by a class action lawsuit pending in this court.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Eastern District of Pennsylvania ("Court"), that the above-captioned action ("Action") has been provisionally certified as a class action for the purposes of settlement only and that the parties to the Action have reached a proposed settlement for $82,500,000 in cash ("Settlement") that, if approved, will resolve all claims in the Action. A hearing will be held on December 11, 2019 at 10:00 a.m., before the Honorable Timothy J. Savage at the James A. Byrne U.S. Courthouse, 601 Market Street, Philadelphia, PA 19106, Courtroom 9A, to determine: (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the releases specified and described in the Stipulation (and in the Notice described below) should be entered; (iii) whether the Settlement Class should be certified for purposes of effectuating the Settlement; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (v) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved.
If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. This notice provides only a summary of the information contained in the detailed Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses; and (III) Settlement Fairness Hearing ("Notice"). You may obtain a copy of the Notice, along with the Claim Form, on the website for the Settlement, www.EndoSecuritiesLitigationSettlement.com, or on Lead Counsel's website, www.ktmc.com. You may also obtain copies of the Notice and Claim Form by contacting the Claims Administrator at SEB Investment Management AB v. Endo International plc, et al. Settlement, c/o JND Legal Administration, P.O. Box 91311, Seattle, WA 98111-9411; 1-844-961-0316; info@EndoSecuritiesLitigationSettlement.com.
If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked (if mailed), or online at www.EndoSecuritiesLitigationSettlement.com, no later than February 7, 2020, in accordance with the instructions set forth in the Claim Form. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any releases, judgments or orders entered by the Court in the Action.
If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is postmarked no later than November 22, 2019, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any releases, judgments or orders entered by the Court in the Action and you will not be eligible to share in the net proceeds of the Settlement. Excluding yourself is the only option that may allow you to be part of any other current or future lawsuit against Defendants or any of the other released parties concerning the claims being resolved by the Settlement. Please note, however, if you decide to exclude yourself from the Settlement Class, you may be time-barred from asserting the claims covered by the Action by a statute of repose.
Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel's motion for attorneys' fees and reimbursement of expenses, must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than November 22, 2019, in accordance with the instructions set forth in the Notice.
PLEASE DO NOT CONTACT THE COURT, THE CLERK'S OFFICE, DEFENDANTS, OR THEIR COUNSEL REGARDING THIS NOTICE.
All questions about this notice, the Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.
Requests for the Notice and Claim Form should
Inquiries, other than requests for the Notice and Claim Form, may be made to Lead Counsel:
SEB Investment Management AB v. Endo International plc, et al. Settlement
c/o JND Legal Administration
P.O. Box 91311
Seattle, WA 98111-9411
Sharan Nirmul, Esq.
Kessler Topaz Meltzer & Check, LLP
280 King of Prussia Road
Radnor, PA 19087
DATED: September 10, 2019
BY ORDER OF THE COURT
United States District Court
Eastern District of Pennsylvania
1 Effective February 28, 2014, all of Endo Health Solutions Inc.'s outstanding common stock was cancelled and converted into the right to receive Endo International plc ordinary shares on a one-for-one-basis. Accordingly, persons and entities who purchased or otherwise acquired either Endo common stock or ordinary shares (collectively, "common stock") between November 30, 2012 and June 8, 2017, inclusive, and were damaged thereby are Settlement Class members.
SOURCE Kessler Topaz Meltzer & Check, LLP