Plaintiffs' Class Counsel announce Pendency of Class Action in the Allergan, Inc. Proxy Violation Securities Litigation

NEW YORK, July 26, 2017 /PRNewswire/ -- The following statement is being issued by Bernstein Litowitz Berger & Grossmann LLP and Kessler Topaz Meltzer & Check, LLP.

UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
SOUTHERN DIVISION

IN RE ALLERGAN, INC. PROXY VIOLATION SECURITIES LITIGATION
Case No. 8:14-cv-2004-DOC (KES)
CLASS ACTION
Honorable David O. Carter

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION

To: (I) All persons who sold Allergan, Inc. ("Allergan") common stock during the period February 25, 2014 through April 21, 2014, inclusive (the "Class Period") and were damaged thereby ("Class Members"); and

(II) All persons who traded price-interdependent derivative securities of Allergan ("Non-Class Member Derivative Investors").

I. To Class Members:

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 Central District of California, Southern Division, that the above-captioned action (the "Action") has been certified to proceed as a class action on behalf of the Class as defined in Roman Numeral (I), above.  Please Note:  At this time, there is no judgment, settlement or monetary recovery.  Trial in this Action is currently scheduled for January 30, 2018.    

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THIS ACTION.  A full printed Notice of Pendency of Class Action (the "Notice") is currently being mailed to known potential Class Members.  If you have not yet received the full printed Notice, you may obtain a copy of the Notice by contacting the Administrator:

Allergan Proxy Violation Securities Litigation
c/o GCG
P.O. Box 10436
Dublin, OH 43017-4036
(855) 474-3851
www.AllerganProxyViolationSecuritiesLitigation.com

Inquiries, other than requests for the Notice, may be made to the following representative Class Counsel:

Jeremy P. Robinson
BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP 
1251 Avenue of the Americas
New York, NY 10020
(800) 380-8496
(212) 554-1400  

Lee Rudy
KESSLER TOPAZ MELTZER & CHECK, LLP
280 King of Prussia Road
Radnor, PA 19087
(888) 299-7706
(610) 667-7706

If you are a Class Member, you have the right to decide whether to remain a member of the Class.  If you want to remain a member of the Class, you do not need to do anything at this time other than to retain your documentation reflecting your transactions and holdings in Allergan common stock.  If you are a Class Member and do not exclude yourself from the Class, you will be bound by the proceedings in this Action, including all past, present, and future orders and judgments of the Court, whether favorable or unfavorable.  If you move, or if the Notice was mailed to an old or incorrect address, please send the Administrator written notification of your new address.

If you ask to be excluded from the Class, you will not be bound by any order or judgment of this Court in this Action, and you will not be eligible to receive a share of any money which might be recovered for the benefit of the Class.  To exclude yourself from the Class, you must submit a written request for exclusion postmarked no later than September 11, 2017, in accordance with the instructions set forth in the full printed Notice.  Pursuant to Rule 23(e)(4) of the Federal Rules of Civil Procedure, it is within the Court's discretion as to whether a second opportunity to request exclusion from the Class will be allowed if there is a settlement or judgment in the Action.     

II. To Non-Class Member Derivative Investors:

The Action to which this notice refers is brought only on behalf of investors who sold Allergan COMMON STOCK during the Class Period and were damaged thereby.  IF YOU TRADED PRICE-INTERDEPENDENT DERIVATIVE SECURITIES OF ALLERGAN (I.E., DERIVATIVE SECURITIES WITH A VALUE THAT IS A FUNCTION OF OR RELATED TO THE VALUE OF ALLERGAN COMMON STOCK) ("ALLERGAN DERIVATIVE SECURITIES"), YOUR TRANSACTIONS IN THOSE SECURITIES ARE NOT COVERED BY THE ACTION.  THE COURT HAS NOT DETERMINED, AND THIS NOTICE DOES NOT EXPRESS ANY OPINION AS TO, WHETHER TRADING IN ALLERGAN DERIVATIVE SECURITIES GIVES RISE TO ANY CLAIMS.  BUT BECAUSE DEFENDANTS' LIABILITY FOR DAMAGES IS LIKELY CAPPED AT THEIR GAINS OR LOSSES AVOIDED FROM THE SECURITIES LAW VIOLATIONS ALLEGED IN THIS ACTION, IT IS POSSIBLE THAT PLAINTIFFS WILL RECOVER THE ENTIRETY OF THE DAMAGES POOL AVAILABLE TO PERSONS ALLEGEDLY HARMED BY THE DEFENDANTS' CONDUCT.  IF SO, IT IS POSSIBLE THAT THERE WILL BE NOTHING LEFT FOR OTHERS TO RECOVER FROM DEFENDANTS on any similar claims AGAINST DEFENDANTS that they may have AND THOSE CLAIMS MAY BE EFFECTIVELY PRECLUDED.  If you engaged in transactions in Allergan Derivative Securities and wish to determine whether you have a cause of action with respect to those transactions, you should consult with your own attorney as soon as possible.   

Further information regarding this notice may be obtained by directing your inquiry in writing to the Administrator at the address provided above.

PLEASE DO NOT CONTACT THE COURT REGARDING THIS NOTICE.

BY ORDER OF THE COURT:
United States District Court
For the Central District of California
Southern Division

SOURCE Bernstein Litowitz Berger & Grossmann LLP and Kessler Topaz Meltzer & Check, LLP