The information contained on this website is only a summary of the information presented in more detail in the 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"). Because this website is just a summary, you should review the Notice and Frequently Asked Questions for additional details.
Summary of the Action and Settlement
The Notice relates to a proposed Settlement of claims in a pending putative securities class action brought by an Endo investor alleging, among other things, that Endo International plc and Endo Health Solutions Inc. (together, “Endo”) and certain of Endo’s former employees and officers (collectively, “Defendants") violated the federal securities laws by making false and misleading statements and failing to disclose material adverse facts regarding the putative safety and abuse-deterrent properties of Reformulated Opana ER. Defendants deny all allegations of wrongdoing or liability whatsoever. A more detailed description of the Action is set forth in the Notice.
Court-Appointed Lead Plaintiff SEB Investment Management AB on behalf of itself and the Settlement Class has reached a proposed settlement of the Action with Defendants for $82,500,000 in cash. The Settlement,if approved by the Court, will resolve all claims of the Settlement Class in the Action.
The Settlement Class consists of:
All persons and entities who purchased or otherwise acquired Endo common stock or ordinary shares between November 30, 2012 and June 8, 2017, inclusive, and were damaged thereby. Certain persons and entities are excluded from the Settlement Class by definition (see ¶ 20 of the Notice).
If you are a member of the Settlement Class, your legal rights will be affected whether you act or do not act. Please read the Notice to fully understand your rights and options. The Frequently Asked Questions page also has information on your rights as a Settlement Class Member. The Frequently Asked Questions page also has information on your rights as a Settlement Class Member.
If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment from the proceeds of the Settlement, you must submit a Claim Form postmarked or submitted online no later than February 7, 2020.
The Net Settlement Fund (i.e., the Settlement Amount plus any interest earned thereon while in escrow (“Settlement Fund”) less (i) any Tax and Tax Expenses; (ii) and Notice and Administration Costs; (ii) any Litigation Expenses, including any reimbursement of costs and expenses to Lead Plaintiff, awarded by the Court; and (iv) any attorneys’ fees awarded by the Court) will be distributed in accordance with a proposed plan of allocation approved by the Court, which will determine how the Net Settlement Fund shall be allocated among Settlement Class Members. The proposed plan of allocation, ("Plan of Allocation") is attached to the Notice as Appendix.
Payments to eligible claimants will be made only if the Court approves the Settlement and a plan of allocation, and only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
|YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT
|SUBMIT A CLAIM FORM BY MAIL OR ONLINE POSTMARKED (OR RECEIVED) NO LATER THAN FEBRUARY 7, 2020.
||This is the only way to be eligible to receive a payment from the Settlement Fund. If you are a Settlement Class Member and you remain in the Settlement Class, you will be bound by the Settlement as approved by the Court and you will give up any Released Plaintiff Claims(as defined in ¶30 of the notice) that you have against Defendants and the other Defendant Releasees(as defined in ¶29 of the notice), so it is in your interest to submit a Claim Form.
|EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION SO THAT IT IS POSTMARKED NO LATER THAN NOVEMBER 22, 2019.
||Get no payment. If you exclude yourself from the Settlement Class, you will not be eligible to receive any payment from the Settlement Fund. This is the only option that may allow you to ever be part of any other lawsuit against Defendants concerning the claims that were, or could have been, asserted in this Action. It is also the only way for Settlement Class Members to remove themselves from the Settlement Class. If you are considering excluding yourself from the Settlement Class, please note that there is a risk that any new claims asserted against Defendants may no longer be timely and would be time-barred.
|OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN NOVEMBER 22, 2019.
||If you do not like the proposed Settlement, the proposed Plan of Allocation, and/or the requested attorneys’ fees and Litigation Expenses, you may write to the Court and explain why you do not like them. In order to object, you must remain a member of the Settlement Class, may not exclude yourself, and you will be bound by the Court’s determinations.
|GO TO A HEARING ON DECEMBER 11, 2019 AT 10:00 A.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN NOVEMBER 22, 2019.
||If you have filed a written objection and wish to appear at the hearing, you must file a notice of intention to appear by November 22, 2019, which allows you to speak in Court, at the discretion of the Court, about the fairness of the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and Litigation Expenses. If you submit a written objection, you may (but you do not have to) attend the hearing.
||If you are a member of the Settlement Class and you do not submit a valid Claim Form, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Settlement Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action.
How do I obtain more information?
Detailed information about the Action and the Settlement is contained in the Notice. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 1-844-961-0316; emailing Info@EndoSecuritiesLitigationSettlement.com; or mailing a letter to:
SEB Investment Management AB v. Endo International plc, et al. Settlement
c/o JND Legal Administration
P.O. Box 91311
Seattle, WA 98111-9411
Inquiries should NOT be directed to the Court or the Clerk of the Court.