Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of Trius Therapeutics, Inc. Securities Litigation

SAN DIEGO, Calif., Aug. 15, 2016 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Trius Therapeutics, Inc. Securities Litigation:

SUPERIOR COURT OF THE STATE OF CALIFORNIA
COUNTY OF SAN DIEGO

SUMMARY NOTICE

IF YOU HELD SHARES OF COMMON STOCK IN TRIUS THERAPEUTICS, INC. ("TRIUS") AND RECEIVED CONSIDERATION FOR YOUR SHARES IN THE ACQUISITION OF TRIUS BY CUBIST PHARMACEUTICALS, INC. ("CUBIST PHARMACEUTICALS") AND BRGO CORPORATION, A WHOLLY-OWNED SUBSIDIARY OF CUBIST PHARMACEUTICALS ("BRGO" AND TOGETHER WITH CUBIST PHARMACEUTICALS, "CUBIST") AT THE PRICE OF $13.50 PER SHARE IN CASH AND ONE CONTINGENT VALUE RIGHT PER SHARE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF A CLASS ACTION.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Superior Court of the State of California, County of San Diego, that a hearing will be held on October 28, 2016, at 10:30 a.m., in Department C-68, 330 West Broadway, San Diego, CA 92101, for the purpose of determining: (1) whether the proposed settlement of the claims in the Action for the sum of $9,400,000.00 in cash plus accrued interest should be approved by the Court as fair, reasonable, and adequate; (2) whether the Court should enter a final judgment in the Action as set forth in the Stipulation of Settlement, dated November 30, 2015 ("Stipulation")¹; (3) whether the plan of distribution is fair, reasonable, and adequate and therefore should be approved; and (4) whether the application of Lead Counsel for an award of attorneys' fees and expenses incurred in connection with this Action and service awards to Plaintiffs should be approved.

If you held Trius common stock and received consideration for your shares in the acquisition of Trius by Cubist at the price of $13.50 per share in cash and one Contingent Value Right per share, your rights may be affected by the settlement of this Action.  If you have not received a detailed Notice of Pendency of Class Action, Proposed Settlement of Class Action, Settlement Hearing and Right to Appear ("Notice") and a copy of the Proof of Claim, you may obtain copies by writing to Trius Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 40007, College Station, TX 77842-4007, or you can download a copy at www.triussecuritieslitigation.com.  If you are a Class Member, in order to share in the distribution of the Net Settlement Amount, you must submit a Proof of Claim postmarked (if mailed) or received (if filed electronically) no later than November 7, 2016, establishing that you are entitled to recovery.  You will be bound by any judgment rendered in the Action whether or not you make a claim.

IF YOU DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION SUCH THAT IT IS POSTMARKED NO LATER THAN OCTOBER 14, 2016, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE REFERRED TO ABOVE.  ALL CLASS MEMBERS WHO HAVE NOT REQUESTED EXCLUSION FROM THE CLASS WILL BE BOUND BY THE SETTLEMENT ENTERED IN THE ACTION EVEN IF THEY DO NOT FILE A TIMELY PROOF OF CLAIM.

IF YOU ARE A CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF DISTRIBUTION, THE REQUEST BY LEAD COUNSEL FOR AN AWARD OF ATTORNEYS' FEES AND EXPENSES, AND/OR THE PAYMENT TO PLAINTIFFS FOR THEIR TIME AND EXPENSES.  ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO LEAD COUNSEL BY OCTOBER 14, 2016, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.

¹ All capitalized terms not otherwise defined herein shall have the same meanings as set forth in the Stipulation.

SOURCE Robbins Geller Rudman & Dowd LLP

Related Links

http://www.triussecuritieslitigation.com