Labaton Sucharow LLP and Motley Rice LLC Announce Proposed Class Action Settlement Involving Purchasers of the Publicly Traded Common Stock of Alexion Pharmaceuticals, Inc.
NEW YORK, Oct. 17, 2023 /PRNewswire/ -- The following statement is being issued by Labaton Sucharow LLP and Motley Rice LLC regarding notice of a proposed class action settlement.
UNITED STATES DISTRICT COURT
DISTRICT OF CONNECTICUT
BOSTON RETIREMENT SYSTEM,
Plaintiff,
vs.
ALEXION PHARMACEUTICALS, INC.,
Defendants.
|
Civ. No. 3:16-cv-02127 (AWT)
Hon. Alvin W. Thompson |
SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED
SETTLEMENT, AND MOTION FOR ATTORNEYS' FEES AND EXPENSES
To: All persons or entities who purchased or otherwise acquired the publicly traded common stock of Alexion Pharmaceuticals, Inc. ("Alexion" or the "Company") from January 30, 2014 to May 26, 2017, inclusive (the "Class Period"), and who were allegedly damaged thereby (the "Class").
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 District of Connecticut, that Court-appointed Class Representatives, on behalf of themselves and all members of the proposed Class, and Alexion, Leonard Bell, David L. Hallal, and Vikas Sinha (collectively, "Defendants"), have reached a proposed settlement of the claims in the above-captioned class action (the "Action") in the amount of $125,000,000 (the "Settlement").
A hearing will be held before the Honorable Alvin W. Thompson, either in person or remotely in the Court's discretion, on December 20, 2023, at 1:30 p.m. at the Abraham Ribicoff Federal Building, United States Courthouse, South Courtroom, 450 Main Street, Hartford, Connecticut 06103 (the "Settlement Hearing") to determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated as of September 11, 2023; (iii) approve the proposed Plan of Allocation for distribution of the proceeds of the Settlement (the "Net Settlement Fund") to Class Members; and (iv) approve Co-Class Counsel's Fee and Expense Application. The Court may change the date of the Settlement Hearing, or hold it remotely, without providing another notice. You do NOT need to attend the Settlement Hearing in order to receive a distribution from the Net Settlement Fund.
IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. If you have not yet received a full Notice and Claim Form, you may obtain copies of these documents by visiting the website for the Settlement, www.AlexionSecuritiesSettlement.com, or by contacting the Claims Administrator at:
Alexion Securities Litigation
c/o KCC Class Action Services
P.O. Box 301170
Los Angeles, CA 90030-1170
www.AlexionSecuritiesSettlement.com
(866) 573-1726
Inquiries, other than requests for information about the status of a claim, may also be made to Co-Class Counsel:
LABATON SUCHAROW LLP
Michael H. Rogers, Esq.
140 Broadway
New York, NY 10005
www.labaton.com
[email protected]
(888) 219-6877
MOTLEY RICE LLC
Gregg S. Levin, Esq.
28 Bridgeside Blvd.
Mount Pleasant, SC 29464
www.motleyrice.com
[email protected]
(855) 481-8480
If you are a Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or submitted online no later than December 15, 2023. If you are a Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable.
If you are a Class Member and wish to exclude yourself from the Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice so that it is received no later than November 29, 2023. If you properly exclude yourself from the Class, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.
Any objections to the proposed Settlement, Co-Class Counsel's Fee and Expense Application, and/or the proposed Plan of Allocation must be filed with the Court, either by mail or in person, and be mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are received no later than November 29, 2023.
PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR
DEFENDANTS' COUNSEL REGARDING THIS NOTICE
DATED: October 17, 2023 |
BY ORDER OF THE COURT |
UNITED STATES DISTRICT COURT |
|
DISTRICT OF CONNECTICUT |
SOURCE Labaton Sucharow LLP and Motley Rice LLC
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