OPKO is a publicly traded Delaware corporation with its principal place of business in Florida.  During the Class Period, OPKO common stock traded on both U.S. stock exchanges and the Tel Aviv Stock Exchange.  

OPKO is a diversified healthcare company.  In addition to developing its own products, OPKO frequently acquires or takes significant stakes in smaller healthcare companies that are purportedly focused on developing new products.  Throughout the Class Period, OPKO and its Chairman and CEO, Dr. Frost, described OPKO’s investments in “early-stage companies” as “strategic” and said those investments were intended to generate growth and therefore value for OPKO shareholders.

On September 7, 2018, the United States Securities & Exchange Commission (the “SEC”) filed a complaint alleging that OPKO and Dr. Frost, among others, had aided and abetted others’ violations of the United States federal securities laws or violated certain of those laws themselves, by allegedly participating in schemes to manipulate the stock prices of two developing healthcare companies.

The price of OPKO common stock fell sharply after the SEC complaint was made public at approximately 1:57 p.m. New York time on September 7, 2018.  Trading of OPKO common stock on U.S. exchanges was halted at about 2:34 p.m. on September 7, 2018.  When trading of OPKO common stock on U.S. exchanges resumed on September 14, 2018, the price of OPKO common stock declined still further.

On September 14, 2018, the Action was commenced with the filing of a securities class action complaint in the United States District Court for the Southern District of Florida, styled Steinberg v. OPKO Health, Inc., et al., No. 1:18-cv-23786-JEM.  

By Opinion and Order dated April 10, 2019, the Court appointed the Amitim Funds as Lead Plaintiff for the Action and approved Lead Plaintiff’s selection of Bernstein Litowitz Berger & Grossmann LLP as Lead Counsel.

On May 3, 2019, Lead Plaintiff filed and served its Consolidated Class Action Complaint (the “Complaint”) asserting claims against Defendants under Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, against Dr. Frost under Section 20(a) of the Exchange Act, and against Defendants for violation of the Israel Securities Law, 1968, for purchases made on the TASE.  These claims were premised on Defendants’ allegedly materially false and misleading statements and omitted material information relating to OPKO’s investments in early stage companies.

In addition, a parallel class action asserting claims under the Israeli Securities Law for purchasers of OPKO common stock on the TASE was filed in Israel, but the case was closed. 

On June 17, 2019, Defendants served their motion to dismiss the Complaint.  On July 19, 2019, Lead Plaintiff filed its papers in opposition and, on August 19, 2019, Defendants served their reply papers.  Lead Plaintiff moved for leave to file a sur-reply on August 27, 2019, Defendants served their opposition on August 29, 2019, and Lead Plaintiff served its reply papers on September 5, 2019.  The Court granted Lead Plaintiff’s Motion for Leave to File a Sur-Reply on February 14, 2020, and Lead Plaintiff filed its sur-reply on February 21, 2020.

On December 17, 2019, the Parties attended an all-day mediation, with Jed Melnick of JAMS serving as the mediator.  After months of additional discussion and negotiation facilitated by Mr. Melnick, on May 28, 2020, the Parties reached an agreement in principle to settle and release all claims in return for a cash payment of $16,500,000, subject to certain terms and conditions and the execution of a customary “long form” stipulation and agreement of settlement and related papers.

On June 26, 2020, the Parties entered into the Stipulation and Agreement of Settlement, which sets forth the terms and conditions of the Settlement.  The Stipulation is available on the "Important Documents" page of this website.

On September 4, 2020, the Court preliminarily approved the Settlement, authorized the Notice to be disseminated to potential Settlement Class Members, and scheduled the Settlement Hearing to consider whether to grant final approval to the Settlement.

If you are a member of the Settlement Class, you are subject to the Settlement, unless you timely request to be excluded.  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.

Excluded from the Settlement Class are (i) Defendants; (ii) the Officers and directors of OPKO currently and during the Class Period; (iii) members of the Immediate Family of any such excluded persons; (iv) the legal representatives, heirs, agents, affiliates, successors, or assigns of any such excluded persons or entities; and (v) any entity in which any such excluded party has, or had during the Class Period, a controlling interest. Also excluded from the Settlement Class are any persons or entities who or which exclude themselves by submitting a request for exclusion in accordance with the requirements set forth in the Notice. See “What If I Do Not Want To Be A Member Of The Settlement Class? How Do I Exclude Myself?” on page 14 of the Notice.

PLEASE NOTE: Receipt of the Notice does not necessarily mean that you are a Settlement Class Member or that you will be entitled to a payment from the Settlement.

Lead Plaintiff and Lead Counsel believe that the claims asserted against Defendants have merit.  They recognize, however, that continued litigation of the Action through the pending motion to dismiss, a motion for class certification, a motion for summary judgment, trial, and potential appeals presented a number of substantial risks to establishing liability and damages, as well as risks relating to recovery of a judgment.  Lead Plaintiff and Lead Counsel also recognize that continued proceedings would be expensive and lengthy, delaying any potentially recovery for several years.  

Lead Plaintiff confronted significant risks to establishing liability and proving damages in this Action.  Specifically, Lead Plaintiff faced challenges in proving that Defendants made materially false or misleading statements or material omissions, and that Defendants made the misstatements or omissions with fraudulent intent or were reckless in making them.  Defendants contend that the SEC complaint that gave rise to this Action identified a different individual as the primary strategist who orchestrated the alleged stock manipulation schemes and contained only sparse allegations about OPKO and Dr. Frost’s involvement, and no allegation that investors in OPKO were misled.  Defendants would contend that the SEC complaint’s allegations about OPKO and Dr. Frost’s involvement were factually flawed and that the actual facts would not support Lead Plaintiff’s fraud claims, but would show that Defendants were unaware of the alleged stock manipulation.  For example, Defendants could point to the fact that OPKO did not sell any of the stock of the two companies at issue, Dr. Frost did not sell any stock in one of the two companies at issue and sold only small portions of his holdings in the other company, and both Defendants continued to invest heavily in the companies after the purported stock manipulation, and would argue that these facts made it implausible that Defendants were involved in the scheme and undercut any inference they acted with scienter.  Moreover, OPKO and Dr. Frost resolved the SEC complaint by settling lesser claims that could be established by strict liability or did not include an element of scienter (as required for the fraud claims alleged in this Action), and even with respect to those claims, OPKO and Dr. Frost made no admissions of wrongdoing.  Finally, Defendants would argue that Lead Plaintiff could not establish loss causation because the SEC complaint contained only unproven allegations and the underlying facts in the SEC complaint about OPKO and Dr. Frost’s investments in the companies whose stocks were allegedly manipulated were already known to the market and thus the SEC complaint could not act as a corrective disclosure of the alleged misstatements. 

Lead Plaintiff also faced substantial risks of recovering on any judgment substantially larger than the Settlement.  OPKO’s insurance was limited and was a wasting asset that would have continued to have been reduced if litigation continued.  Moreover, there was a publicly disclosed coverage dispute between Defendants and their insurers that, if litigated and decided adversely to OPKO, would have left none of the insurance available to the class in this Action.  OPKO itself had only limited cash available to contribute to any settlement or other recovery.  If the available insurance was further reduced through the costs of continued litigation or was unavailable as a result of the coverage dispute, the class might recover substantially less than the Settlement or nothing at all.  In any event, any such recovery would not be paid to the Settlement Class for several years.

In short, Lead Plaintiff confronted risks that the case might be dismissed in whole or in substantial part based on unfavorable court rulings, including on Defendants’ motion to dismiss, Lead Plaintiff’s motion for class certification, an appeal of a class-certification grant, Defendants’ motion for summary judgment, at trial, or on appeal after a verdict.  Further, even if Lead Plaintiff had successfully litigated the case to judgment, the risks related to OPKO’s wasting insurance might still have limited any eventual recovery, and any recovery would likely not be secured until several years from now. 

In light of these risks, the amount of the Settlement, and the immediacy of recovery to the Settlement Class, Lead Plaintiff and Lead Counsel believe that the proposed Settlement is fair, reasonable, and adequate, and in the best interests of the Settlement Class.  Lead Plaintiff and Lead Counsel believe that the Settlement provides a substantial benefit to the Settlement Class, namely $16,500,000 in cash (less the various deductions described in the Notice), as compared to the risk that the claims in the Action would produce a smaller recovery, or no recovery, after summary judgment, trial, and appeals, possibly years in the future.

Defendants have vigorously denied and continue to deny each and all of the claims asserted against them in the Action and deny that the Settlement Class was harmed or suffered any damages as a result of the conduct alleged in the Action.  Defendants have expressly denied and continue to deny all charges of wrongdoing or liability against them arising out of any of the conduct, statements, acts or omissions alleged, or that could have been alleged, in the Action.  Defendants have agreed to the Settlement solely to eliminate the burden and expense of continued litigation.  Accordingly, the Settlement may not be construed as an admission of any wrongdoing by Defendants.

If there were no Settlement and Lead Plaintiff failed to establish any essential legal or factual element of its claims against Defendants, neither Lead Plaintiff nor the other members of the Settlement Class would recover anything from Defendants.  Also, if Defendants were successful in proving any of their defenses, either at summary judgment, at trial, or on appeal, the Settlement Class could recover substantially less than the amount provided in the Settlement, or nothing at all.

As a Settlement Class Member, you are represented by Lead Plaintiff and Lead Counsel, unless you enter an appearance through counsel of your own choice at your own expense.  You are not required to retain your own counsel, but if you choose to do so, such counsel must file a notice of appearance on your behalf and must serve copies of his or her appearance on the attorneys listed in the section entitled, “When And Where Will The Court Decide Whether To Approve The Settlement?,” page 14 of the Notice.

If you are a Settlement Class Member and do not wish to remain a Settlement Class Member, you may exclude yourself from the Settlement Class by following the instructions in the section entitled, “What If I Do Not Want To Be A Member Of The Settlement Class?  How Do I Exclude Myself?,” page 14 of the Notice.

If you are a Settlement Class Member and you wish to object to the Settlement, the Plan of Allocation, or Lead Counsel’s application for attorneys’ fees and Litigation Expenses, and if you do not exclude yourself from the Settlement Class, you may present your objections by following the instructions in the section entitled, “When And Where Will The Court Decide Whether To Approve The Settlement?,” page 14 of the Notice.

If you are a Settlement Class Member and you do not exclude yourself from the Settlement Class, you will be bound by any orders issued by the Court.  If the Settlement is approved, the Court will enter a judgment (the “Judgment”).  The Judgment will dismiss with prejudice the claims against Defendants and will provide that, upon the Effective Date of the Settlement, Lead Plaintiff and each of the other Settlement Class Members, on behalf of themselves, and their respective heirs, executors, administrators, predecessors, successors, and assigns, in their capacities as such, will have fully, finally, and forever compromised, settled, released, resolved, relinquished, waived, and discharged each and every Released Plaintiffs’ Claim (as defined in ¶ 35 of the Notice) against the Defendants’ Releasees (as defined in ¶ 36 of the Notice), and will forever be barred and enjoined from prosecuting any or all of the Released Plaintiffs’ Claims against any of the Defendants’ Releasees.  

“Released Plaintiffs’ Claims” means any and all claims, demands, rights, causes of action or liabilities, of every nature and description whatsoever, whether based in law or equity, on federal, state, local, statutory or common law, or any other law, rule or regulation, including without limitation, claims for negligence, gross negligence, breach of duty of care, breach of duty of loyalty, breach of duty of candor, fraud, negligent misrepresentation, or breach of fiduciary duty, including both known claims and Unknown Claims, that have been or could have been asserted in any forum by the Settlement Class Members, or any of them, or the successors or assigns of any of them, whether directly, indirectly, representatively or in any other capacity, against any of the Defendants’ Releasees, which arise out of, are based upon, or relate in any way, directly or indirectly, to (i) the allegations, transactions, facts, events, matters, occurrences, acts, representations or omissions involved, set forth, referred to, or that could have been asserted in this Action, and (ii) the purchase, sale, holding, or acquisition of OPKO common stock by any Settlement Class Member during the Class Period.  For the avoidance of doubt, this release does not release or impair (i) any claims asserted in any shareholder derivative action, including without limitation the claims asserted in the Derivative Actions; or (ii) any claims relating to the enforcement of the Settlement.

“Defendants’ Releasees” means Defendants and their current and former parents, affiliates, subsidiaries, officers, directors, agents, representatives, successors, predecessors, assigns, assignees, partnerships, partners, principals, employees, trustees, trusts, heirs, executors, administrators, Immediate Family Members, insurers, reinsurers, underwriters, professional advisors, and attorneys, in their capacities as such. 

“Unknown Claims” means any Released Plaintiffs’ Claims which Lead Plaintiff or any other Settlement Class Member does not know or suspect to exist in his, her, or its favor at the time of the release of such claims, and any Released Defendants’ Claims which any Defendant does not know or suspect to exist in his or its favor at the time of the release of such claims, which, if known by him, her, or it, might have affected his, her, or its decision(s) with respect to this Settlement.  With respect to any and all Released Claims, the Parties stipulate and agree that, upon the Effective Date of the Settlement, Lead Plaintiff and Defendants shall expressly waive, and each of the other Settlement Class Members shall be deemed to have waived, and by operation of the Judgment shall have expressly waived, any and all provisions, rights, and benefits conferred by any law of any state or territory of the United States, or principle of common law or foreign law, which is similar, comparable, or equivalent to California Civil Code §1542, which provides:

A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.

Lead Plaintiff and Defendants acknowledge, and each of the other Settlement Class Members shall be deemed by operation of law to have acknowledged, that the foregoing waiver was separately bargained for and a key element of the Settlement.

The Judgment will also provide that, upon the Effective Date of the Settlement, Defendants, on behalf of themselves and their respective heirs, executors, administrators, predecessors, successors, and assigns, in their capacities as such, will have fully, finally, and forever compromised, settled, released, resolved, relinquished, waived, and discharged each and every Released Defendants’ Claim (as defined in ¶ 39 of the Notice) against Lead Plaintiff and the other Plaintiffs’ Releasees (as defined in ¶ 40 of the Notice), and will forever be barred and enjoined from prosecuting any or all of the Released Defendants’ Claims against any of the Plaintiffs’ Releasees.

“Released Defendants’ Claims” means all claims and causes of action of every nature and description, whether known claims or Unknown Claims, whether arising under federal, state, common or foreign law, that arise out of or relate in any way to the institution, prosecution, or settlement of the claims asserted in the Action against Defendants.  Released Defendants’ Claims do not include: (i) any claims relating to the enforcement of the Settlement; (ii) any claims against any person or entity who or which submits a request for exclusion from the Settlement Class that is accepted by the Court; or (iii) any claims by Defendants against their insurers.

“Plaintiffs’ Releasees” means Lead Plaintiff, all other plaintiffs in the Action, and all other Settlement Class Members, and their respective current and former parents, affiliates, subsidiaries, officers, directors, agents, representatives, successors, predecessors, assigns, assignees, partnerships, partners, principals, officers, employees, trustees, trusts, heirs, executors, administrators, Immediate Family Members, insurers, reinsurers, professional advisors, and attorneys, in their capacities as such.

The method for Settlement Class Members to participate in the Settlement depends on whether the Settlement Class Member purchased his, her, or its OPKO common shares on a U.S. stock exchange, or on the Tel Aviv Stock Exchange (“TASE”), in any other manner other than through a purchase on the TASE, or on a combination of the foregoing.

If you purchased or acquired OPKO common stock during the Class Period on a United States stock exchange (including the New York Stock Exchange or Nasdaq) or in any other manner other than through a purchase on the TASE, you must complete and return the Claim Form with adequate supporting documentation postmarked no later than January 26, 2021 to be potentially eligible for a payment from the applicable portion of the Settlement.  A Claim Form is included with the Notice, or you may obtain one from the "Claim Form" page of this website maintained by the Claims Administrator for the Settlement.  You may also request that a Claim Form be mailed to you by calling the Claims Administrator toll free at 1-888-383-0345 or by emailing the Claims Administrator at info@OPKOHealthSecuritiesLitigation.com.  Please retain all records of your ownership of and transactions in OPKO common stock, as they will be needed to document your Claim.  The Parties and Claims Administrator do not have information about your transactions in OPKO common stock if they were traded on a U.S. exchange.

If you purchased OPKO common stock traded on the Tel Aviv Stock Exchange (“TASE”) during the Class Period, you do not need to submit a Claim Form to be eligible for a payment.  If the Settlement is approved, the Claims Administrator will distribute the applicable portion of the Net Settlement Fund for these investors through their brokers, as further described in the Plan of Allocation set forth in Appendix A at the end of the Notice.

If you purchased OPKO common stock on both the TASE and a U.S. exchange or in any other manner other than through a purchase on the TASE during the Class Period, you must submit a Claim Form with respect to the shares you purchased on the U.S. exchange(s) or in any other manner other than through a purchase on the TASE to be eligible for a portion of the Settlement based on those purchases.  You should only include information about your purchases of OPKO common stock traded on a U.S. exchange or in any other manner other than through a purchase on the TASE in your Claim Form.

If you request exclusion from the Settlement Class, you will not be eligible to share in the Net Settlement Fund and should not submit a Claim Form.  

At this time, it is not possible to make any determination as to how much any individual Settlement Class Member may receive from the Settlement.

Pursuant to the Settlement, Defendants have agreed to pay or caused to be paid a total of $16,500,000 in cash (the “Settlement Amount”).  The Settlement Amount will be deposited into an escrow account.  The Settlement Amount plus any interest earned thereon is referred to as the “Settlement Fund.”  If the Settlement is approved by the Court and the Effective Date occurs, the “Net Settlement Fund” (that is, 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 to Settlement Class Members who submit valid Claim Forms, in accordance with the proposed Plan of Allocation or such other plan of allocation as the Court may approve.

The Net Settlement Fund will not be distributed unless and until the Court has approved the Settlement and a plan of allocation, and the time for any petition for rehearing, appeal, or review, whether by certiorari or otherwise, has expired.

Neither Defendants nor any other person or entity that paid any portion of the Settlement Amount on their behalf are entitled to get back any portion of the Settlement Fund once the Court’s order or judgment approving the Settlement becomes Final.  Defendants shall not have any liability, obligation, or responsibility for the administration of the Settlement, the disbursement of the Net Settlement Fund, any actions of the Escrow Agent, or the Plan of Allocation.

Approval of the Settlement is independent from approval of a plan of allocation.  Any determination with respect to a plan of allocation will not affect the Settlement, if approved.

Only members of the Settlement Class will be eligible to share in the distribution of the Net Settlement Fund.  Persons and entities that are excluded from the Settlement Class by definition or that exclude themselves from the Settlement Class pursuant to request will not be eligible for a payment.

Appendix A to the Notice sets forth the Plan of Allocation for allocating the Net Settlement Fund among Authorized Claimants, as proposed by Lead Plaintiff.  At the Settlement Hearing, Lead Counsel will request the Court approve the Plan of Allocation. The Court may modify the Plan of Allocation, or approve a different plan of allocation, without further notice to the Settlement Class. 

Plaintiffs’ Counsel have not received any payment for their services in pursuing claims against Defendants on behalf of the Settlement Class, nor have Plaintiffs’ Counsel been paid for their litigation expenses.  Before final approval of the Settlement, Lead Counsel will apply to the Court for an award of attorneys’ fees for all Plaintiffs’ Counsel in the amount of 20% of the Settlement Fund.  At the same time, Lead Counsel also intends to apply for payment of Litigation Expenses paid or incurred by Plaintiffs’ Counsel in an amount not to exceed $300,000, which may include an application for the reasonable costs and expenses incurred by Lead Plaintiff directly related to its representation of the Settlement Class, pursuant to 15 U.S.C. § 78(a)(4) of the PSLRA.  The Court will determine the amount of any award of attorneys’ fees or Litigation Expenses.  Such sums as may be approved by the Court will be paid from the Settlement Fund.  Settlement Class Members are not personally liable for any such fees or expenses.

Each Settlement Class Member will be bound by all determinations and judgments in this lawsuit, whether favorable or unfavorable, unless such person or entity mails or delivers a written Request for Exclusion from the Settlement Class, addressed to OPKO Health Securities Litigation, EXCLUSIONS, c/o JND Legal Administration, P.O. Box 91360, Seattle, WA 98111.  The Request for Exclusion must be received no later than November 24, 2020.  You will not be able to exclude yourself from the Settlement Class after that date.  Each Request for Exclusion must (i) state the name, address, and telephone number of the person or entity requesting exclusion, and in the case of entities, the name and telephone number of the appropriate contact person; (ii) state that such person or entity “requests exclusion from the Settlement Class in Steinberg v. OPKO Health, Inc., Case No. 1:18-cv-23786 (S.D. Fla.)”; (iii) state the number of shares of OPKO common stock that the person or entity requesting exclusion (A) owned as of the opening of trading on September 26, 2013 and (B) purchased/acquired and/or sold during the Class Period (i.e., from September 26, 2013 through September 7, 2018), as well as the dates and prices of each such purchase/acquisition and sale; and (iv) be signed by the person or entity requesting exclusion or an authorized representative.  A Request for Exclusion shall not be valid and effective unless it provides all the information called for in this paragraph and is received within the time stated above, or is otherwise accepted by the Court.  If you exclude yourself from the Settlement Class, you should understand that Defendants and the other Defendants’ Releasees will have the right to assert any and all defenses they may have to any claims that you may seek to assert, including, without limitation, the defense that any such claims are untimely under applicable statutes of limitations and statutes of repose.

If you do not want to be part of the Settlement Class, you must follow these instructions for exclusion even if you have pending, or later file, another lawsuit, arbitration, or other proceeding relating to any Released Plaintiffs’ Claim against any of the Defendants’ Releasees.

If you ask to be excluded from the Settlement Class, you will not be eligible to receive any payment out of the Net Settlement Fund.

Defendants have the right to terminate the Settlement if valid requests for exclusion are received from persons and entities entitled to be members of the Settlement Class in an amount that exceeds an amount agreed to by Lead Plaintiff and Defendants.

Settlement Class Members do not need to attend the Settlement Hearing.  The Court will consider any submission made in accordance with the provisions below even if a Settlement Class Member does not attend the hearing.  You can participate in the Settlement without attending the Settlement Hearing.  

Please Note: The date and time of the Settlement Hearing may change without further written notice to the Settlement Class.  In addition, the COVID-19 pandemic is a fluid situation that creates the possibility that the Court may decide to conduct the Settlement Hearing by video or telephonic conference, or otherwise allow Settlement Class Members to appear at the hearing by phone, without further written notice to the Settlement Class.  In order to determine whether the date and time of the Settlement Hearing have changed, or whether Settlement Class Members must or may participate by phone or video, it is important that you monitor the Court’s docket and this website, before making any plans to attend the Settlement Hearing.  Any updates regarding the Settlement Hearing, including any changes to the date or time of the hearing or updates regarding in-person or telephonic appearances at the hearing, will be posted to the 'Important Documents page of this website.  Also, if the Court requires or allows Settlement Class Members to participate in the Settlement Hearing by telephone, the phone number for accessing the telephonic conference will be posted to this website. 

The Settlement Hearing will be conducted by Zoom videoconference. Any Settlement Class Member who wishes to attend or participate in the hearing by videoconference may do so by contacting Lead Counsel at settlements@blbglaw.com to obtain the access information. 

At the Settlement Hearing, the Court will determine, among other things, (i) whether the proposed Settlement on the terms and conditions provided for in the Stipulation is fair, reasonable, and adequate to the Settlement Class, and should be finally approved by the Court; (ii) whether, for purposes of the Settlement only, the Action should be certified as a class action on behalf of the Settlement Class, Lead Plaintiff should be certified as Class Representative for the Settlement Class, and Lead Counsel should be appointed as Class Counsel for the Settlement Class; (iii) whether the Action should be dismissed with prejudice against Defendants and the Releases specified and described in the Stipulation (and in the Notice) should be granted; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; (v) whether Lead Counsel’s motion for an award of attorneys’ fees and Litigation Expenses should be approved; and (vi) any other matters that may properly be brought before the Court in connection with the Settlement.  The Court reserves the right to certify the Settlement Class; approve the Settlement, the Plan of Allocation, and Lead Counsel’s motion for attorneys’ fees and Litigation Expenses, and/or consider any other matter related to the Settlement at or after the Settlement Hearing without further notice to the members of the Settlement Class.

Any Settlement Class Member who or which does not request exclusion may object to the Settlement, the proposed Plan of Allocation, or Lead Counsel’s motion for attorneys’ fees and Litigation Expenses.  Objections must be in writing.  You must file any written objection, together with copies of all other papers and briefs supporting the objection, with the Clerk’s Office at the United States District Court for the Southern District of Florida at the address set forth below on or before November 24, 2020.  You must also serve the papers on Lead Counsel and on Representative Defendants’ Counsel at the addresses set forth below so that the papers are received on or before November 24, 2020 and you must email a copy of your objection to settlements@blbglaw.com and brian.miller@akerman.com  by November 24, 2020.

Any objection must (i) identify the case name and docket number, Steinberg v. OPKO Health, Inc., Case No. 1:18-cv-23786; (ii) state the name, address, and telephone number of the person or entity objecting and must be signed by the objector; (iii) state with specificity the grounds for the Settlement Class Member’s objection, including any legal and evidentiary support the Settlement Class Member wishes to bring to the Court’s attention and whether the objection applies only to the objector, to a specific subset of the Settlement Class, or to the entire Settlement Class; and (iv) include documents sufficient to prove membership in the Settlement Class, including documents showing the number of shares of OPKO common stock that the objecting Settlement Class Member (A) owned as of the opening of trading on September 26, 2013 and (B) purchased/acquired and/or sold during the Class Period (i.e., from September 26, 2013 through September 7, 2018, inclusive), as well as the dates and prices of each such purchase/acquisition and sale.  Documentation establishing membership in the Settlement Class must consist of copies of brokerage confirmation slips or monthly brokerage account statements, or an authorized statement from the objector’s broker containing the transactional and holding information found in a broker confirmation slip or account statement.  You may not object to the Settlement, the Plan of Allocation, or Lead Counsel’s motion for attorneys’ fees and Litigation Expenses if you exclude yourself from the Settlement Class or if you are not a member of the Settlement Class.

You may file a written objection without having to appear at the Settlement Hearing.  You may not, however, appear at the Settlement Hearing to present your objection unless you first file and serve a written objection in accordance with the procedures described above, unless the Court orders otherwise. 

If you wish to be heard orally at the hearing in opposition to the approval of the Settlement, the Plan of Allocation, or Lead Counsel’s motion for an award of attorneys’ fees and Litigation Expenses, assuming you timely file and serve a written objection as described above, you must also file a notice of appearance with the Clerk’s Office and serve it on Lead Counsel and on Representative Defendants’ Counsel at the addresses set forth in ¶ 61 of the Noticeso that it is received on or before November 24, 2020.  Persons who intend to object and desire to present evidence at the Settlement Hearing must include in their written objection or notice of appearance the identity of any witnesses they may call to testify and exhibits they intend to introduce into evidence at the hearing.  Such persons may be heard orally at the discretion of the Court.

You are not required to hire an attorney to represent you in making written objections or in appearing at the Settlement Hearing.  However, if you decide to hire an attorney, it will be at your own expense, and that attorney must file a notice of appearance with the Court and serve it on Lead Counsel and Defendants’ Counsel at the addresses set forth in ¶ 61 of the Notice so that the notice is received on or before November 24, 2020.

The Settlement Hearing may be adjourned by the Court without further written notice to the Settlement Class.  If you plan to attend the Settlement Hearing, you should confirm the date and time with Lead Counsel. 

Unless the Court orders otherwise, any Settlement Class Member who does not object in the manner described above will be deemed to have waived any objection and shall be forever foreclosed from making any objection to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel’s motion for an award of attorneys’ fees and Litigation Expenses.  Settlement Class Members do not need to appear at the Settlement Hearing or take any other action to indicate their approval.

If you purchased or otherwise acquired OPKO common stock during the period from September 26, 2013 through September 7, 2018, inclusive, for the beneficial interest of persons or organizations other than yourself, you must either (i) within seven (7) calendar days of receipt of the Notice, request from the Claims Administrator sufficient copies of the Notice and Claim Form (the “Notice Packet”) to forward to all such beneficial owners and within seven (7) calendar days of receipt of those Notice Packets forward them to all such beneficial owners; or (ii) within seven (7) calendar days of receipt of the Notice, provide a list of the names, addresses, and email addresses (if available) of all such beneficial owners to OPKO Health Securities Litigation, c/o JND Legal Administration, P.O. Box 91360, Seattle, WA 98111.  

If you choose the first option, you must send a statement to the Claims Administrator confirming that the mailing was made as directed and retain the list of names and addresses for use in connection with any possible future notice to the Settlement Class.  If you choose the second option, the Claims Administrator will send a copy of the Notice Packet to the beneficial owners.  

Upon full compliance with these directions, such nominees may seek reimbursement of their reasonable expenses actually incurred, by providing the Claims Administrator with proper documentation supporting the expenses for which reimbursement is sought.  Copies of the Notice and the Claim Form may also be obtained from the 'Important Documents' page of this website, by calling the Claims Administrator toll-free at 1 888-383-0345, or by emailing the Claims Administrator at info@OPKOHealthSecuritiesLitigation.com.

The Notice contains only a summary of the terms of the proposed Settlement.  For more detailed information about the matters involved in this Action, you are referred to the papers on file in the Action, including the Stipulation, which may be inspected during regular office hours at the Office of the Clerk, United States District Court for the Southern District of Florida, Wilkie D. Ferguson, Jr. United States Courthouse, 400 North Miami Avenue, Miami, Florida 33128.  Additionally, copies of the Stipulation and any related orders entered by the Court will be posted on the "Important Documents" page of this Settlement website.

All inquiries concerning the Notice and the Claim Form should be directed to:

DO NOT CALL OR WRITE THE COURT, THE OFFICE OF THE CLERK OF THE COURT, DEFENDANTS, OR THEIR COUNSEL REGARDING THE NOTICE.