Notice of Pendency and Proposed Settlement of Class Action Involving All Persons and Entities Who Purchased or Otherwise Acquired Amneal Pharmaceuticals, Inc. Common Stock from May 7, 2018 through May 5, 2021

SEATTLE, June 6, 2022 /PRNewswire/ -- 

SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION
AND PROPOSED SETTLEMENT; (II) SETTLEMENT HEARING; AND
(III) MOTION FOR ATTORNEYS' FEES AND LITIGATION EXPENSES

This notice is for all persons and entities who purchased or otherwise acquired publicly traded Class A common stock of Amneal Pharmaceuticals, Inc. ("Amneal") from May 7, 2018 through May 5, 2021, inclusive (the "Settlement Class").  The full definition of the Settlement Class, including the identity of certain persons and entities that are excluded from the Settlement Class, is set forth in the full printed Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys' Fees and Litigation Expenses (the "Notice").

Please read this notice carefully; your rights MAY be affected by a class action lawsuit pending in this court.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 4:32 of the New Jersey Court Rules and an Order of the Superior Court of New Jersey, Somerset County, Law Division (the "Court"), that the above-captioned litigation (the "Action") is pending in the Court.

YOU ARE ALSO NOTIFIED that Plaintiff Cambridge Retirement System has reached a proposed settlement of the Action for $25,000,000 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 August 15, 2022, at 9:00 a.m. Eastern Time, before the Honorable Kevin M. Shanahan either in person in Courtroom 301 of the Somerset County Courthouse, 20 North Bridge Street, Somerville, NJ 08876, or by telephone or videoconference (in the discretion of the Court) for the following purposes:  (a) to determine whether the proposed Settlement on the terms and conditions provided for in the Stipulation and Agreement of Settlement dated March 28, 2022 (the "Stipulation") is fair, reasonable, and adequate to the Settlement Class and should be finally approved by the Court; (b) to determine whether a judgment substantially in the form attached as Exhibit B to the Stipulation should be entered dismissing the Action with prejudice against Defendants; (c) to determine whether the Settlement Class should be certified for purposes of the Settlement; (d) to determine whether the proposed Plan of Allocation for the proceeds of the Settlement is fair and reasonable and should be approved; (e) to determine whether the motion by Class Counsel for attorneys' fees and reimbursement of expenses should be approved; and (f) to consider any other matters that may properly be brought before the Court in connection with the Settlement.

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 Amneal Securities Litigation, c/o JND Legal Administration, P.O. Box 91234, Seattle, WA 98111, 1-866-615-0973.  Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.AmnealSecuritiesLitigation.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, no later than September 26, 2022, 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 connection with the Settlement.

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 July 25, 2022, 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.  Please note: If you 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, or Class Counsel's motion for attorneys' fees and litigation expenses must be filed with the Court and delivered to Class Counsel and Defendants' Counsel such that they are received no later than July 25, 2022, in accordance with the instructions set forth in the Notice.

Please do not contact the Court, the Clerk's office, AMNEAL, the other Defendants, or their counsel regarding this notice.  All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Class Counsel or the Claims Administrator.  Visit www.AmnealSecuritiesLitigation.com or call toll-free 866-615-0973.

Inquiries, other than requests for the Notice and Claim Form, should be made to Class Counsel:

BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
Lauren A. Ormsbee, Esq.
1251 Avenue of the Americas, 44th Floor
New York, NY 10020
1-800-380-8496
[email protected]

Requests for the Notice and Claim Form should be made to:

Amneal Securities Litigation 
c/o JND Legal Administration
P.O. Box 91234
Seattle, WA 98111
1-866-615-0973
[email protected]
www.AmnealSecuritiesLitigation.com

By Order of the Court
Superior Court of New Jersey,
Somerset County, Law Division

SOURCE JND Legal Administration