Monteverde & Associates PC and Kahn Swick & Foti Announce Proposed Class Action Settlement on Behalf of Holders of GW Pharmaceuticals PLC American Depositary Shares

NEW YORK, Sept. 15, 2023 /PRNewswire/ --

TO: RECORD AND BENEFICIAL HOLDERS OF GW PHARMACEUTICALS, PLC. ("GW") AMERICAN DEPOSITARY SHARES FROM MARCH 10, 2021 THROUGH AND INCLUDING MAY 5, 2021, THE DATE OF THE CONSUMMATION OF GW'S MERGER WITH JAZZ PHARMACEUTICALS, PLC (THE "MERGER"), INCLUDING ANY AND ALL OF THEIR RESPECTIVE SUCCESSORS-IN-INTEREST, SUCCESSORS, PREDECESSORS-IN-INTEREST, PREDECESSORS, REPRESENTATIVES, TRUSTEES, EXECUTORS, ADMINISTRATORS, ESTATES, HEIRS, ASSIGNS AND TRANSFEREES, IMMEDIATE AND REMOTE, AND ANY PERSON OR ENTITY ACTING FOR OR ON BEHALF OF, OR CLAIMING UNDER, ANY OF THEM, AND EACH OF THEM, TOGETHER WITH THEIR PREDECESSORS-IN-INTEREST, PREDECESSORS, SUCCESSORS-IN-INTEREST, SUCCESSORS, AND ASSIGNS (THE "CLASS").

THE PARTIES TO A SHAREHOLDER CLASS ACTION SUIT CONCERNING THE MERGER HAVE AGREED TO A PROPOSED SETTLEMENT.  YOU MAY BE ENTITLED TO COMPENSATION AS A RESULT OF THE PROPOSED SETTLEMENT IN THE ACTION CAPTIONED:

ZIEGLER V. GW PHARMACEUTICALS, PLC, et al, Case No. 21-cv-01019

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the District of Southern California, that a hearing will be held on December 11, 2023, at 11:00AM, before the Honorable Cynthia A. Bashant at the United States District Court for the Southern District of California, James M. Carter and Judith N. Keep United States Courthouse, 333 West Broadway, San Diego, CA 92101.  Settlement Class Members should check the Settlement Class website in advance of the Final Approval Hearing to determine whether that hearing instead will occur via a remote link.  The hearing will be held for the purpose of determining: (1) whether the proposed Settlement of the Litigation for $7.75 million should be approved by the Court as fair, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Litigation with prejudice and releasing the Released Claims against Defendants and Defendants' Released Persons; (3) whether final certification of the Settlement Class, Lead Plaintiffs, and Lead Counsel should be granted; (4) whether the Plan of Allocation for the Net Settlement Fund is fair, reasonable, and adequate and should be approved; and (5) whether the application of Lead Counsel for the payment of attorneys' fees and expenses, and any award to Lead Plaintiffs pursuant to 15 U.S.C. §78u-4(a)(4) should be approved.

IF YOU PURCHASED, SOLD OR HELD GW ADSs AT ANY TIME DURING THE PERIOD FROM AND INCLUDING MARCH 10, 2021 THROUGH AND INCLUDING MAY 5, 2021 (THE "SETTLEMENT CLASS PERIOD"), YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION, INCLUDING THE RELEASE AND EXTINGUISHMENT OF CLAIMS YOU MAY POSSESS RELATING TO YOUR PURCHASE OR ACQUISITION OF GW ADSs DURING THE SETTLEMENT CLASS PERIOD.  If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form, you may obtain copies by writing to GW Pharmaceuticals Securities Litigation, Claims Administrator, 920 2^nd Avenue South #400, Minneapolis, MN 55402, (612) 359-2000 or on the Internet at www.gwsecuritieslitigation.com. If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail postmarked no later than January 8, 2024, or online at www.gwsecuritieslitigation.com, no later than January 8, 2024 establishing that you are entitled to recovery.

If you purchased, sold, or held GW ADSs at any time during the Settlement Class Period and you desire to be excluded from the Settlement Class, you must submit a request for exclusion so that it is received no later than November 20, 2023, in the manner and form explained in the detailed Notice referred to above. All Members of the Settlement Class who do not timely and validly request exclusion from the Settlement Class will be bound by any judgment entered in the Litigation pursuant to the Stipulation of Settlement.

Any objection to the Settlement, the Plan of Allocation, Lead Counsel's request for the payment of attorneys' fees and expenses, and any award to Lead Plaintiffs must be received by each of the following recipients via hard copy and email no later than November 20, 2023:

CLERK OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF CALIFORNIA
James M. Carter and Judith N. Keep United States Courthouse
333 West Broadway
San Diego, CA 92101

Lead Counsel:

MONTEVERDE & ASSOCIATES PC
Juan E. Monteverde
The Empire State Building
350 Fifth Avenue, Suite 4740
New York, NY 10118
Tel: (212) 971-1341
[email protected]

KAHN SWICK & FOTI, LLC
Michael Palestina
1100 Poydras Street, Suite 960
New Orleans, LA 70163
Tel: (504) 648-1843
[email protected]

Counsel for Defendants:

WACHTELL LIPTON ROSEN & KATZ
Rachelle Silverberg
51 West 52nd Street
New York, New York 10019
Tel: (212) 403-1299
[email protected]

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.  If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above.

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF CALIFORNIA

SOURCE Monteverde & Associates PC