BRIDGEPORT, Conn., Feb. 21, 2022 /PRNewswire/ --
UNITED STATES
DISTRICT COURT
DISTRICT OF CONNECTICUT
IN RE TEVA SECURITIES
LITIGATION
|
No. 3:17-cv-00558
(SRU)
|
|
|
|
SUMMARY NOTICE OF PENDENCY AND
PROPOSED SETTLEMENT OF CLASS ACTION
TO: Purchasers and acquirers in domestic transactions
of Teva Pharmaceutical Industries Ltd. ("Teva") American Depositary
Shares, Teva 7.00% mandatory convertible preferred shares, and/or
certain Teva Pharmaceutical Finance Netherlands III B.V. ("Teva
Finance") U.S.-dollar-denominated senior notes during the period
from February 6, 2014 through
May 10, 2019, inclusive.
IF YOU PURCHASED OR ACQUIRED TEVA SECURITIES (DEFINED BELOW)
FROM FEBRUARY 6, 2014 THROUGH
MAY 10, 2019, INCLUSIVE, YOUR RIGHTS
MAY BE AFFECTED BY A PROPOSED SETTLEMENT IN THIS LITIGATION
(THE "LITIGATION").
THIS SUMMARY NOTICE WAS AUTHORIZED BY THE COURT. IT IS
NOT A LAWYER SOLICITATION. PLEASE READ THIS SUMMARY NOTICE
CAREFULLY AND IN ITS ENTIRETY.
YOU ARE HEREBY NOTIFIED that a hearing will be held on
June 2, 2022, at 10:00 a.m.,
before the Honorable Stefan R. Underhill, United States District
Judge, at the United States
District Court for the District of Connecticut (the "Court"), Brien McMahon
Federal Building, 915 Lafayette Boulevard, Bridgeport, CT 06604 for the purpose of
determining: (1) whether the proposed settlement of the
Litigation, as set forth in the Stipulation dated January 18, 2022, consisting of Four Hundred and
Twenty Million U.S. dollars
($420,000,000) in cash, should be
approved as fair, reasonable, and adequate to the
Settlement Class Members; (2) whether the proposed plan to
distribute the Net Settlement Fund (the "Plan of Allocation")
is fair, reasonable, and adequate; (3) whether the
applications by Class Counsel for attorneys' fees and expenses
should be approved; (4) whether Class Representatives should
receive awards pursuant to 15 U.S.C. § 78u-4(a)(4) in connection
with their representation of the Settlement Class and, if so, in
what amount; and (5) whether the proposed Judgment should be
entered.
The Litigation has been certified as a class action on behalf of
all persons and entities (with certain exclusions) who purchased or
acquired Teva Securities from February 6,
2014 through May 10, 2019,
inclusive. The "Teva Securities" are: Teva Pharmaceutical
Industries Ltd. ("Teva") American Depositary Shares ("ADS") (ISIN
No. US8816242098; CUSIP 881624209), Teva 7% mandatory convertible
preferred shares ("Preferred Shares") (ISIN No. IL0062905489; CUSIP
M8769Q 136), and the following Teva Pharmaceutical Finance
Netherlands III B.V. ("Teva Finance") U.S.-dollar-denominated
senior notes: 1.400% Senior Notes due July
20, 2018 (ISIN US88167AAA97; CUSIP 88167A AA9); 1.700%
Senior Notes due July 19, 2019 (ISIN
US88167AAB70; CUSIP 88167A AB7); 2.200% Senior Notes due
July 21, 2021 (ISIN US88167AAC53;
CUSIP 88167A AC5); 2.800% Senior Notes due July 21, 2023 (ISIN US88167AAD37; CUSIP 88167A
AD3); 3.150% Senior Notes due October 1,
2026 (ISIN US88167AAE10; CUSIP 88167A AE1); and 4.100%
Senior Notes due October 1, 2046
(ISIN US88167AAF84; CUSIP 88167A AF8) (collectively, the
"Notes").
A detailed description of the Litigation, including important
information about your rights and options, is in the detailed
Long-Form Notice of Pendency and Proposed Settlement of Class
Action (the "Long-Form Notice"), available at
www.TevaSecuritiesLitigation.com or by contacting the Claims
Administrator at: Epiq Class Action & Claims Solutions,
Inc., In re Teva Securities Litigation, P.O. Box 3565,
Portland, OR 97208-3565,
Telephone: (855) 675-3124, or 1-503-520-4435 outside the
U.S. and Canada.
To be eligible for a payment from the Net Settlement Fund
you must submit a Proof of Claim and Release Form electronically
submitted or postmarked by no later than May 17, 2022. To obtain a copy of
the Proof of Claim and Release Form, visit
www.TevaSecuritiesLitigation.com or contact the Claims
Administrator at the address above. Failure to submit your Proof of
Claim and Release Form by May 17,
2022 will subject your claim to possible rejection and may
preclude you from receiving any payment from the
settlement.
To be excluded from the settlement, you must submit a written
request for exclusion, in accordance with all of the instructions
in the Long-Form Notice, electronically submitted or
postmarked no later than May 2,
2022. If you request exclusion, you will not
receive any payment from the settlement.
If you are a Settlement Class Member and you do nothing,
you will not share in the proceeds of the settlement,
but you will be bound by the settlement and shall have fully
released all of the Released Claims against the Released
Defendants.
Direct Action Plaintiffs are those plaintiffs who retained
counsel and filed with the Court one of the lawsuits listed in
Appendix B to the Long-Form Notice. The foregoing deadlines do not
apply to the Direct Action Plaintiffs. Direct Action
Plaintiffs who wish to participate in the settlement must take
certain steps, specified in the Long-Form Notice, no later
than May 2, 2022.
To object to any aspect of the settlement, the Plan of
Allocation, the application for attorneys' fees and expenses, or
Class Representatives' request for awards pursuant to 15 U.S.C. §
78u-4(a)(4), you must submit a written objection in accordance with
all of the instructions in the Long-Form Notice that is
received or filed, not simply postmarked, on or before
May 12, 2022. If you
object, but also want to be eligible for a payment, you must submit
a timely Proof of Claim and Release Form.
Inquiries, other than requests for the Long-Form Notice, may be
made by emailing Class Counsel at TevaSettlement@bfalaw.com or
contacting:
Joseph A.
Fonti
Bleichmar Fonti & Auld LLP
7 Times Square, 27th Floor
New York, New York 10036
Telephone: (888) 879-9418
PLEASE DO NOT CONTACT THE COURT OR THE OFFICE
OF THE CLERK
WITH QUESTIONS REGARDING THIS LITIGATION OR THIS NOTICE.
Dated: February 21, 2022
BY ORDER OF THE COURT:
United States District Court for
the
District of Connecticut
URL// www.TevaSecuritiesLitigation.com
View original
content:https://www.prnewswire.com/news-releases/bleichmar-fonti--auld-llp-announce-a-proposed-class-action-settlement-involving-purchasers-of-teva-pharmaceutical-securities-301485130.html
SOURCE Bleichmar Fonti & Auld LLP