Robbins Geller Rudman & Dowd LLP and Kahn Swick & Foti, LLC Announce Proposed Settlement in the Esperion Therapeutics Securities Settlement

SAN DIEGO--(BUSINESS WIRE)--The following statement is being issued by Robbins Geller Rudman & Dowd LLP and Kahn Swick & Foti, LLC regarding the Esperion Therapeutics Securities Settlement:

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF MICHIGAN
SOUTHERN DIVISION

KEVIN L. DOUGHERTY, Individually and	)	Civ. No. 2:16-cv-10089-AJT-RSW
on Behalf of All Others Similarly Situated,	)	CLASS ACTION
Plaintiff,	)	SUMMARY NOTICE OF PROPOSED
vs.	)	SETTLEMENT OF CLASS ACTION
ESPERION THERAPEUTICS, INC., et al.,	)
Defendants.	)
	)
	)
	)

TO: ALL PERSONS AND ENTITIES THAT PURCHASED OR OTHERWISE ACQUIRED ESPERION THERAPEUTICS, INC. (“ESPERION” OR THE “COMPANY”) COMMON STOCK FROM AUGUST 18, 2015 THROUGH SEPTEMBER 28, 2015, INCLUSIVE (“CLASS” OR “CLASS MEMBERS”), AND WERE ALLEGEDLY DAMAGED THEREBY

THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION.
PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED that a hearing will be held on August 23, 2021, at 3:00 p.m., before the Honorable Arthur J. Tarnow at the Theodore Levin U.S. Courthouse, 231 W. Lafayette Blvd., Detroit, MI 48226, or at such other location or via telephonic or video appearance as determined by the Court, to determine whether: (1) the proposed settlement (the “Settlement”) of the above-captioned action as set forth in the Stipulation of Settlement (“Stipulation”)¹ for $18,250,000 should be approved by the Court as fair, reasonable and adequate; (2) the Judgment as provided under the Stipulation should be entered to dismiss the above-captioned action with prejudice; (3) to award Class Counsel attorneys’ fees and expenses out of the Settlement Fund (as defined in the Notice of Pendency and Proposed Settlement of Class Action (“Notice”), which is discussed below) and, if so, in what amounts; (4) the Class Representatives’ request for reimbursement in connection with their representation of the Class pursuant to 15 U.S.C. §78u-4(a)(4) should be approved and, if so, in what amounts; and (5) the Plan of Allocation should be approved by the Court as fair, reasonable and adequate.

This Litigation is a securities class action brought on behalf of those Persons or entities who purchased or acquired Esperion common stock during the period between August 18, 2015 and September 28, 2015, inclusive, against Esperion and Tim Mayleben (collectively, “Defendants”) for, among other things, allegedly misstating and omitting material facts about information concerning the drug approval process for Esperion’s cholesterol-lowering drug. The Class Representatives allege that these purportedly false and misleading statements inflated the price of Esperion stock, resulting in damage to Class Members when the truth was revealed. Defendants deny all of the Class Representatives’ allegations.

IF YOU PURCHASED OR ACQUIRED ESPERION COMMON STOCK BETWEEN AUGUST 18, 2015 THROUGH AND INCLUDING SEPTEMBER 28, 2015, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.

To share in the distribution of the Settlement Fund, you must establish your rights by submitting a Proof of Claim and Release form (“Proof of Claim”) by mail (postmarked no later than September 24, 2021) or electronically (no later than September 24, 2021). Your failure to submit your Proof of Claim by September 24, 2021, will subject your claim to rejection and preclude your receiving any of the recovery in connection with the Settlement of this Litigation. If you are a Member of the Class and do not request exclusion therefrom, you will be bound by the Settlement and any judgment and release entered in the Litigation, including, but not limited to, the Judgment, whether or not you submit a Proof of Claim. If you have not received a copy of the Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement), and a Proof of Claim, you may obtain these documents, as well as a copy of the Stipulation (which, among other things, contains definitions for the defined terms used in this Summary Notice) and other Settlement documents, online at www.EsperionSecuritiesSettlement.com, or by writing to:

Esperion Securities Settlement
Claims Administrator
c/o Gilardi & Co. LLC
P.O. Box 43390
Providence, RI 02940-3390

Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court.

Inquiries, other than requests for the Notice or a Proof of Claim, may be made to Class Counsel:

ROBBINS GELLER RUDMAN & DOWD LLP
Ellen Gusikoff Stewart
655 West Broadway, Suite 1900
San Diego, CA 92101
Telephone: [phone]

KAHN SWICK & FOTI, LLC
ALEXANDER BURNS
1100 Poydras Street, Suite 3200
New Orleans, LA 70163
Toll-Free: 1-866-467-1400

IF YOU DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION SUCH THAT IT IS RECEIVED BY AUGUST 2, 2021, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE. CLASS MEMBERS WHO HAVE NOT REQUESTED EXCLUSION FROM THE CLASS WILL BE BOUND BY THE SETTLEMENT EVEN IF THEY DO NOT SUBMIT TIMELY PROOF OF CLAIM.

IF YOU ARE A CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF ALLOCATION, THE REQUEST BY CLASS COUNSEL FOR AN AWARD OF ATTORNEYS’ FEES NOT TO EXCEED 32.5% OF THE $18,250,000 SETTLEMENT AMOUNT AND EXPENSES NOT TO EXCEED $1,000,000 INCLUDING THE PAYMENT TO THE CLASS REPRESENTATIVES IN CONNECTION WITH THEIR REPRESENTATION OF THE CLASS NOT TO EXCEED $15,000 IN THE AGGREGATE. ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO CLASS COUNSEL AND DEFENDANTS’ COUNSEL BY AUGUST 2, 2021, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.

DATED: May 6, 2021	BY ORDER OF THE COURT
	UNITED STATES DISTRICT COURT
	EASTERN DISTRICT OF MICHIGAN

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¹ The Stipulation can be viewed and/or obtained at www.EsperionSecuritiesSettlement.com.