Shapiro Haber & Urmy Announces Pendency and Proposed Settlement of Class Action Involving Accentia Biopharmaceuticals, Inc. (ABPI) and Biovest International, Inc., (BVTIQ) and Settlement Hearing
NEW YORK, Nov. 5, 2014 /PRNewswire/ -- Lead Counsel for Plaintiffs hereby gives Notice, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court, that a Settlement (the "Settlement") has been preliminarily approved by the Court in the above-captioned action.
THE PROPOSED SETTLEMENT CLASS WILL CONSIST OF ALL PERSONS WHO, DURING THE PERIOD FROM JULY 26, 2008, TO AND THROUGH AUGUST 14, 2012, INCLUSIVE, PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF ACCENTIA BIOPHARMACEUTICALS, INC., AND/OR THE COMMON STOCK OF BIOVEST INTERNATIONAL, INC., AND WERE DAMAGED THEREBY (THE "SETTLEMENT CLASS").
The proposed Settlement provides for the establishment of a settlement fund of $1,250,000.00. A hearing will be held before the Honorable Steven D. Merryday, in the United States District Court for the Middle District of Florida, Sam M. Gibbons U.S. Courthouse, 801 North Florida Avenue, Tampa, Florida 33602, at 9:00 a.m. on January 26, 2015, to determine whether (1) the proposed Settlement is fair, reasonable and adequate and should be approved; and (2) to dismiss with prejudice the Action and the claims of the Settlement Class Members.
The Court will also consider: (1) the proposed Plan of Allocation for distribution of the Settlement proceeds, (2) the application by Plaintiffs' Counsel for an award of attorneys' fees and expenses, which is payable out of the Settlement Fund, and (3) the application for a service award to the Lead Plaintiffs, which is payable out of the Settlement Fund.
IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE 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 identifying yourself as a member of the Class and by contacting: Accentia/Biovest Securities Litigation, c/o Berdon Claims Administration LLC, P.O. Box 9014, Jericho, NY 11753-8914; Phone: 800-766-3330; Fax: 516-931-0810; Website: www.berdonclaims.com; Email: visit http://www.berdonclaims.com and click on "Contact Us."
Inquiries, other than requests for the Notice and Proof of Claim, may be made to Plaintiffs' Lead Counsel: Thomas G. Shapiro, Shapiro Haber & Urmy LLP, Seaport East, Two Seaport Lane, Boston, MA 02210; Email: [email protected]; Phone: 617-439-3939.
To participate in the Settlement, you must file a Proof of Claim by mailing it to the Claims Administrator at the address set forth above postmarked no later than February 19, 2015. If you want to exclude yourself from the Class, you must file a request for exclusion received no later than January 5, 2015 in the manner and form explained in the detailed Notice referred to above. IF YOU ARE A CLASS MEMBER AND DO NOT EXCLUDE YOURSELF AND DO NOT FILE A TIMELY AND PROPER PROOF OF CLAIM, YOU WILL NOT SHARE IN THE SETTLEMENT, BUT YOU WILL STILL BE BOUND BY THE TERMS AND CONDITIONS OF THE SETTLEMENT AND ANY FINAL ORDER AND JUDGMENT OF THE COURT.
Further information regarding filing a claim, documentation required, etc., may be obtained by contacting the Claims Administrator, as set forth above.
PLEASE DO NOT CONTACT ACCENTIA, BIOVEST, THE COURT OR THE CLERK'S OFFICE FOR INFORMATION.
BY ORDER OF THE UNITED STATE DISTRICT COURT FOR THE MIDDLE DISTRICT OF FLORIDA
SOURCE Berdon Claims Administration LLC
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