Update on the Distribution of the U.S. Net Settlement Fund
The Court has approved the distribution of the U.S. portion of the Net Settlement Fund to eligible Court-approved Claimants who qualified for an award under the Plan of Allocation. A distribution of funds has occurred on the following date/s:
May 12, 2022
If you submitted a Claim in this case and have any questions related to that Claim, please contact the Claims Administrator whose contact information is listed here below:
The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys’ Fees and Litigation Expenses. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action and Settlement
Lead Plaintiff, on behalf of itself and the Settlement Class, has settled the Action in exchange for $16,500,000 in cash (the “Settlement”).
The Court held a hearing to consider approval of the Settlement and related matters on December 15, 2020. On April 28 and 29, 2021, the Court entered a Final Judgment and an Order finally approving the Settlement and approving the proposed Plan of Allocation, and an Order awarding attorneys’ fees and expenses.
The Net Settlement Fund (i.e., the Settlement Amount plus any and all interest earned thereon (the “Settlement Fund”) less (i) any Taxes; (ii) any Notice and Administration Costs; (iii) any Litigation Expenses awarded by the Court; (iv) any attorneys’ fees awarded by the Court; and (v) any other costs or fees approved by the Court) will be distributed in accordance with the Plan of Allocation approved by the Court. The Court-approved Plan of Allocation, which will determine how the Net Settlement Fund shall be allocated among members of the Settlement Class, is set forth in Appendix A at the end of the Notice.
If you are a member of the Settlement Class, your rights will be affected and you may be eligible for a payment from the Settlement.
The Settlement Class consists of:
all persons or entities that purchased or otherwise acquired OPKO common stock during the period from September 26, 2013 through September 7, 2018, inclusive (the “Class Period”), including, but not limited to, on either a U.S.-based exchange (including the New York Stock Exchange and Nasdaq), or on the Tel Aviv Stock Exchange, and who were damaged thereby.
Please read the Notice to fully to understand your rights.
If you are a member of the Settlement Class and you purchased OPKO common stock on a U.S. stock exchange (New York Stock Exchange or Nasdaq), or you purchased or acquired shares through any other means other than on the Tel Aviv Stock Exchange, you must submit a Claim Form postmarked no later than January 26, 2021 in order to be eligible to receive a payment under the Settlement.
If you purchased OPKO common stock only on the Tel Aviv Stock Exchange (“TASE”) you do not need to submit a Claim Form. Those Settlement Class Members will be eligible to receive a distribution from the Settlement, based on the shares they purchased on the TASE without submitting a Claim Form.
Payments to eligible claimants will be made after the completion of all claims processing. Please be patient, as this process will take some time to complete.
|YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:
|IF YOU PURCHASED OPKO COMMON STOCK ON A U.S. EXCHANGE, SUBMIT A CLAIM FORM POSTMARKED NO LATER THAN JANUARY 26, 2021.
||The only way to be eligible to receive a payment from the Settlement Fund based on your purchases of OPKO common stock traded on a U.S. stock exchange (including the New York Stock Exchange or Nasdaq), or any other purchases or acquisitions of OPKO common stock by any other means other than on the Tel Aviv Stock Exchange, is to submit a Claim Form postmarked by January 26, 2021.
You do not need to submit a Claim Form to be eligible for a payment based on your purchases of OPKO common stock traded on the Tel Aviv Stock Exchange.
||If you are a member of the Settlement Class and you take no action, you will remain a member of the Settlement Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action.
In addition, if you do not submit a Claim Form you will not be eligible for any payment from the portion of the Settlement for which you may eligible based on purchases of OPKO common stock traded on U.S. exchanges. (If you are eligible for a portion of the Settlement based on purchases of OPKO common stock on the Tel Aviv Stock Exchange, you may receive this payment without submitting a Claim Form.)
How do I obtain more information?
More detailed information about the Action and the Settlement is contained in the Notice. If you have questions, you may contact the Claims Administrator by calling toll-free 1-888-383-0345; emailing info@OPKOHealthSecuritiesLitigation.com; or mailing a letter to:
OPKO Health Securities Litigation
c/o JND Legal Administration
P.O. Box 91360
Seattle, WA 98111
Inquiries should NOT be directed to the Court, the Clerk of the Court, Defendants, or their counsel.