SEATTLE, Oct. 8, 2020 /PRNewswire/ --
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
Case No. 1:18-cv-23786-MARTINEZ-OTAZO-REYES
CHARLES STEINBERG, individually and on
OPKO HEALTH, INC., PHILLIP FROST,
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND
PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING;
AND (III) MOTION FOR ATTORNEYS' FEES AND LITIGATION EXPENSES
This notice is for all persons and entities who purchased or otherwise acquired the common stock of OPKO Health, Inc. ("OPKO") during the period September 26, 2013 through September 7, 2018, inclusive (the "Class Period"), and who were damaged thereby (the "Settlement Class").
PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
Pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of Florida, the above-captioned litigation (the "Action") has been certified as a class action on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the full printed Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Attorneys' Fees and Litigation Expenses (the "Notice").
Lead Plaintiff, The Amitim Funds, has reached a proposed settlement of the Action for $16,500,000 in cash (the "Settlement") on behalf of the Settlement Class, that, if approved, will resolve all claims in the Action.
A hearing will be held on December 15, 2020 at 1:30 p.m. Eastern Standard Time, before the Honorable Jose E. Martinez either in person at the United States District Court for the Southern District of Florida, Courtroom 10-1, Wilkie D. Ferguson, Jr. United States Courthouse, 400 North Miami Avenue, Miami, Florida 33128, or by or by telephone or videoconference (in the discretion of the Court). At the hearing, the Court will determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether, for purposes of the proposed Settlement only, the Action should be certified as a class action on behalf of the Settlement Class, Lead Plaintiff should be certified as Class Representative for the Settlement Class, and Lead Counsel should be appointed as class counsel for the Settlement Class; (iii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated June 26, 2020 (and in the Notice) should be granted; (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. If you have not yet received the Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at OPKO Health, Inc. Securities Litigation, c/o JND Legal Administration, P.O. Box 91360, Seattle, WA 98111, 1-888-383-0345. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, http://www.OPKOHealthSecuritiesLitigation.com.
If you are a member of the Settlement Class and you purchased OPKO common stock on a U.S. stock exchange (New York Stock Exchange or Nasdaq), or you purchased or acquired shares through any other means other than on the Tel Aviv Stock Exchange, you must submit a Claim Form postmarked no later than January 26, 2021 in order to be eligible to receive a payment under the proposed Settlement.
Settlement Class Members who purchased OPKO common stock only on the Tel Aviv Stock Exchange ("TASE") do not need to submit a Claim Form. Those Settlement Class Members will be eligible to receive a distribution from the Settlement, if it is approved, based on the shares they purchased on the TASE without submitting a Claim Form.
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 received no later than November 24, 2020, 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 judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.
Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and expenses, must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than November 24, 2020, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, OPKO, or its counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.
Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:
BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
John Rizio-Hamilton, Esq.
1251 Avenue of the Americas, 44th Floor
New York, NY 10020
Requests for the Notice and Claim Form should be made to:
OPKO Health, Inc. Securities Litigation
c/o JND Legal Administration
P.O. Box 91360
Seattle, WA 98111
By Order of the Court
SOURCE JND Legal Administration