Labaton Sucharow LLP Announces Summary Notice of Pendency of Class Action and Proposed Settlement and Motion for Attorneys' Fees and Expenses in Public Pension Fund Group, et al. v. KV Pharmaceutical Company, et al. (08-CV-1859) (E.D. Mo.)

NEW YORK, March 5, 2014 /PRNewswire/ -- TO:  ALL PERSONS OR ENTITIES THAT PURCHASED OR OTHERWISE ACQUIRED THE PUBLICLY TRADED SECURITIES OF KV PHARMACEUTICAL COMPANY ("KV," "K-V," OR THE "COMPANY") DURING THE PERIOD BETWEEN JUNE 15, 2004 AND JANUARY 23, 2009, INCLUSIVE (THE "CLASS PERIOD"), AND 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 Court, that the Class in the above-captioned litigation ("Action") has been preliminarily certified for the purposes of settlement only and that a settlement between the Norfolk County Retirement System and the State-Boston Retirement System ("Lead Plaintiffs"), KV, Marc S. Hermelin ("Hermelin" and together with KV, "Defendants"), David Van Vliet ("Van Vliet"), and Rita Bleser ("Bleser" and together with Van Vliet, "Former Defendants"), in the amount of $12,800,000, has been proposed by the Settling Parties.

A hearing will be held before the Honorable Carol E. Jackson of the United States District Court for the Eastern District of Missouri in the Thomas F. Eagleton U.S. Courthouse, 111 South 10th Street, Courtroom 14 North, St. Louis, MO 63102 at 1:30 p.m., on April 23, 2014, to, among other things: determine whether the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; determine whether, thereafter, this Action should be dismissed with prejudice as to the Defendants as set forth in the Stipulation and Agreement of Settlement, dated as of December 20, 2013; determine whether the proposed Plan of Allocation for distribution of the settlement proceeds should be approved as fair and reasonable; and consider the application of Lead Counsel for an award of attorneys' fees and reimbursement of litigation expenses.  The Court may change the date of the hearing without providing another notice. 

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO SHARE IN THE NET SETTLEMENT FUND.  If you have not yet received the full printed Notice of Pendency of Class Action and Proposed Settlement and Motion for Attorneys' Fees and Expenses (the "Notice") and a Proof of Claim and Release Form ("Proof of Claim"), you may obtain copies of these documents by contacting the Claims Administrator:

KV PHARMACEUTICAL SECURITIES LITIGATION
c/o A.B. Data, Ltd.
PO Box 170500
Milwaukee, WI 53217-8091
Telephone:  866-905-8124
www.KVPharmaSecuritiesLitigation.com

Inquiries, other than requests for information about the status of a claim, may also be made to Lead Counsel:

LABATON SUCHAROW LLP
Jonathan M. Plasse, Esq.
Javier Bleichmar, Esq.
140 Broadway
New York, NY 10005
Telephone:  888-219-6877
www.labaton.com

[email protected]

If you are a Class Member, to be eligible to share in the distribution of the settlement proceeds, you must submit a Proof of Claim postmarked no later than June 19, 2014. 

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 April 2, 2014.  If you are a putative Class Member and do not exclude yourself from the Class, you will be bound by the Final Order and Judgment. 

Any objections to the proposed Settlement, Plan of Allocation, and/or application for attorneys' fees and reimbursement of expenses must be filed with the Court and served on counsel for the Settling Parties in accordance with the instructions set forth in the Notice, so that they are received no later than April 2, 2014. 

If you are a Class Member and do not timely submit a valid Proof of Claim, you will not be eligible to share in the Net Settlement Fund, but you nevertheless will be bound by the Final Order and Judgment.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.  If you have any questions about the Settlement, you may contact Lead Counsel at the addresses listed above.

SOURCE Labaton Sucharow LLP

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