Labaton Sucharow LLP Announces Summary Notice of Pendency of Class Action and Proposed Settlement and Motion for Attorneys' Fees and Expenses
NEW YORK, June 3, 2015 /PRNewswire/ -- The following statement is being issued by Labaton Sucharow LLP regarding the In re ViroPharma Incorporated Securities Litigation.
UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF PENNSYLVANIA
In re VIROPHARMA INCORPORATED
SECURITIES LITIGATION
Civil Action No. 2:12-cv-02714
TO: ALL PERSONS OR ENTITIES THAT PURCHASED OR OTHERWISE ACQUIRED VIROPHARMA SECURITIES DURING THE PERIOD BETWEEN DECEMBER 14, 2011 AND APRIL 19, 2012, INCLUSIVE, AND WERE DAMAGED THEREBY ("SETTLEMENT CLASS").
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Eastern District of Pennsylvania, that a settlement between (i) Lead Plaintiff, on behalf of the Settlement Class and (ii) ViroPharma Incorporated ("ViroPharma"), Vincent J. Milano, Charles A. Rowland, Jr., Thomas F. Doyle, and J. Peter Wolf (collectively "Defendants") in the amount of $8,000,000 to resolve the captioned action in its entirety has been proposed by the Settling Parties.
A hearing will be held before the Honorable C. Darnell Jones, United States District Judge, on October 29, 2015 at 1:00 p.m. at the James A. Byrne U.S. Courthouse, 601 Market Street, Philadelphia, PA 19106, for the purpose of determining, among other things, (i) whether the Settlement set forth in the Stipulation and Agreement of Settlement, dated as of April 28, 2015 ("Settlement Agreement") is fair, reasonable, and adequate and should be approved; (ii) whether this Action should be dismissed with prejudice as set forth in the Settlement Agreement; (iii) whether the Plan of Allocation of the Net Settlement Fund is fair, reasonable and adequate and should be approved; and (iv) the reasonableness of the application of Lead Counsel for the payment of attorney's fees and expenses, with interest, incurred in connection with this Action. The Court has reserved the right to reschedule the hearing without further notice.
If you are a member of the Settlement Class described above, your rights will be affected by this Action and the proposed Settlement thereof. If you have not received the detailed Notice of Pendency of Class Action and Proposed Settlement and Motion for Attorneys' Fees and Expenses (the "Notice") and Proof of Claim form, you may obtain them by downloading them at www.viropharmasecuritieslitigation.com or by contacting the Claims Administrator:
ViroPharma Inc. Securities Litigation
c/o GCG
P.O. Box 10179
Dublin, OH 43017-3179
(844) 322-8240
Inquiries, other than requests for information about the status of a claim, may also be made to Lead Counsel:
LABATON SUCHAROW LLP
Jonathan Gardner, Esq.
140 Broadway
New York, NY 10005
(888) 219-6877
www.labaton.com
[email protected]
If you are a member of the Settlement Class and wish to share in the Settlement proceeds, you must submit a Proof of Claim postmarked or received no later than September 21, 2015 establishing that you are entitled to a recovery. As further described in the Notice, you will be bound by any judgment entered in the Action, regardless of whether you submit a Proof of Claim, unless you exclude yourself from the Settlement Class, in accordance with the procedures set forth in the Notice, no later than October 8, 2015. Any objections to the Settlement, Plan of Allocation, or Lead Counsel's request for attorney's fees and expenses, must be filed and served, in accordance with the procedures set forth in the Notice, such that they are received no later than October 8, 2015.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE ABOUT THIS NOTICE.
DATED: June 3, 2015
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE EASTERN
DISTRICT OF PENNSYLVANIA
SOURCE Labaton Sucharow LLP
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