Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of Questcor Pharmaceuticals Inc. Securities Litigation

LOS ANGELES--()--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Questcor Pharmaceuticals Inc. Securities Litigation.

UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
WESTERN DIVISION

   

In re QUESTCOR PHARMACEUTICALS, INC.
SECURITIES LITIGATION

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Case No. CV-12-01623-DMG(JPRx)

 

CLASS ACTION

This Document Relates To:

     ALL ACTIONS.

 

SUMMARY NOTICE

TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED QUESTCOR PHARMACEUTICALS, INC. (“QUESTCOR”) COMMON STOCK BETWEEN APRIL 4, 2011 AND SEPTEMBER 21, 2012, INCLUSIVE

YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States District Court for the Central District of California, Western Division, a hearing will be held on September 18, 2015, at 10:00 a.m., before the Honorable Dolly M. Gee, United States District Judge, at the United States District Court for the Central District of California, Western Division, United States Courthouse, 312 North Spring Street, Courtroom 7, Los Angeles, CA 90012, for the purpose of determining whether: (1) the settlement of the Litigation for the sum of $38,000,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) the Plan of Allocation of settlement proceeds should be approved by the Court as fair, reasonable, and adequate; (3) Lead Counsel’s application for the payment of attorneys’ fees not to exceed 27.5% of the settlement proceeds and expenses incurred in connection with this Litigation, together with interest thereon, should be approved by the Court; (4) Plaintiffs’ request to be paid for their time and expenses in representing the Class should be approved by the Court; and (5) the Court should enter the Final Judgment and Order of Dismissal with Prejudice.

If you purchased Questcor common stock between April 4, 2011 and September 21, 2012, inclusive, your rights may be affected by this Litigation and the settlement thereof. If you have not received a detailed Notice of Proposed Settlement of Class Action and a copy of the Proof of Claim and Release form, you may obtain copies by writing to Questcor Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 8040, San Rafael, CA 94912-8040, or by downloading this information at www.questcorsecuritieslitigation.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 form by mail or online no later than September 2, 2015, establishing that you are entitled to a recovery. You will be bound by any judgment rendered in the Litigation unless you request to be excluded, in writing, to the above address of the Claims Administrator, postmarked no later than August 21, 2015.

Any objection to any aspect of the settlement must be mailed such that it is received by the following parties no later than August 21, 2015:

Questcor Securities Litigation
Claims Administrator
c/o Gilardi & Co. LLC
P.O. Box 6002
Larkspur, CA 94977-6002

   

Counsel for Plaintiffs:

ROBBINS GELLER RUDMAN

& DOWD LLP

JEFFREY D. LIGHT

655 West Broadway, Suite 1900

San Diego, CA 92101

Counsel for Defendants:

SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP

PETER B. MORRISON

300 South Grand Avenue

Los Angeles, CA 90071

LATHAM & WATKINS LLP

PETER A. WALD

650 Town Center Drive, 20th Floor

Costa Mesa, CA 92626

 

PLEASE DO NOT CONTACT THE COURT OR THE CLERK ’S OFFICE REGARDING THIS NOTICE. If you have any questions about the settlement or the Litigation, you may contact Lead Counsel at the address above or call Rick Nelson, Shareholder Representative for Lead Counsel at 1-800-449-4900.

   
DATED: May 27, 2015 BY ORDER OF THE COURT

UNITED STATES DISTRICT COURT

CENTRAL DISTRICT OF CALIFORNIA

WESTERN DIVISION

 

Contacts

Robbins Geller Rudman & Dowd LLP
Jeffrey D. Light, 1-619-231-1058
655 West Broadway, Suite 1900
San Diego, CA 92101

Contacts

Robbins Geller Rudman & Dowd LLP
Jeffrey D. Light, 1-619-231-1058
655 West Broadway, Suite 1900
San Diego, CA 92101