Robbins Geller Rudman & Dowd LLP Announces Notice of Hearing to Determine Approval of Proposed Settlement of Class Action

SAN DIEGO, Jan. 13, 2011 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP pursuant to an order of the United States District Court, Northern District of Illinois:

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of Illinois, that a hearing will be held on March 17, 2011, at 8:30 a.m., before the Honorable Joan H. Lefkow, at the United States District Court, Northern District of Illinois, Eastern Division, Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Chicago, IL 60604, for the purpose of determining (1) whether the proposed settlement of the claims in the Litigation for the principal amount of $3,350,000.00, plus accrued interest, should be approved by the Court as fair, just, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Litigation with prejudice; (3) whether the Plan of Allocation is fair, reasonable, and adequate and therefore should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys' fees and expenses and the Lead Plaintiff's expenses in connection with this Litigation should be approved.

IF YOU PURCHASED OR ACQUIRED NEOPHARM COMMON STOCK DURING THE PERIOD FROM JANUARY 14, 2002 TO APRIL 19, 2002, INCLUSIVE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.  If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form, you may obtain copies by writing to NeoPharm Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 990, Corte Madera, CA 94976-0990, or on the internet at www.gilardi.com.  If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release postmarked no later than April 11, 2011, establishing that you are entitled to recovery.

If you desire to be excluded from the Class, you must submit a request for exclusion postmarked by February 22, 2011, in the manner and form explained in the detailed Notice referred to above.  All Members of the Class who have not timely and validly requested exclusion from the Class will be bound by any judgment entered in the Litigation pursuant to the Stipulation of Settlement.

Any objection to the settlement must be received, not simply postmarked, by each of the following recipients no later than February 22, 2011:

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 address listed above.

SOURCE Robbins Geller Rudman & Dowd LLP