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Notice For A Proposed Class Action Settlement Involving Individuals Who Purchased Or Acquired Common Stock Of Lannett Company, Inc.

SEATTLE, Aug. 16, 2019 /PRNewswire/ --

UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF PENNSYLVANIA

Case No. 2:18-cv-03635-MAK

ROBERT STROUGO, Individually and On
Behalf of All Others Similarly Situated,

 

Plaintiff,

 

v.

 

LANNETT COMPANY, INC., TIMOTHY C.
CREW, and MARTIN P. GALVAN,

 

Defendants.



This notice is for all persons who purchased or otherwise acquired Lannett Company, Inc. ("Lannett") common stock during the period from February 8, 2018 through and including August 17, 2018, and held such shares until at least August 17, 2018. Your rights will be affected by a class action lawsuit pending in this court.

YOU ARE NOTIFIED under a July 31, 2019 Order of the United States District Court for the Eastern District of Pennsylvania of a hearing to be held on February 7, 2020, at 9:30 a.m., before the Honorable Mark A. Kearney, United States District Judge, at the United States District Court for the Eastern District of Pennsylvania, 601 Market Street, Philadelphia, PA 19106, for the purpose of determining: (1) whether the proposed Settlement of the claims in the Litigation for the principal amount of $300,000.00, plus interest and Notice and Administration Expenses, should be approved by the Court as fair, reasonable, and adequate;1 (2) whether a Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Litigation with prejudice; (3) whether the Plan of Allocation of Settlement proceeds is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys' fees and expenses and Lead Plaintiffs' expenses in connection with this Litigation should be approved.

IF YOU PURCHASED OR OTHERWISE ACQUIRED ANY LANNETT COMMON STOCK DURING THE PERIOD FROM FEBRUARY 8, 2018 THROUGH AND INCLUDING AUGUST 17, 2018, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.

If you have not received a detailed Notice of Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form, you may obtain copies by writing to Lannett Company, Inc. Securities Litigation, c/o JND Legal Administration, PO Box 91153, Seattle, WA 98111-9416, or on the Internet at www.LannettSecuritiesSettlement.com. If you are a Settlement Class Member, to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form online or postmarked by December 13, 2019, showing you are entitled to recovery. You will be bound by any judgment rendered in the Litigation unless you request to be excluded, in writing, to Lannett Company, Inc. Securities Litigation, c/o JND Legal Administration, PO Box 91153, Seattle, WA 98111-9416, postmarked by December 16, 2019.

Any objection to the Settlement, the Plan of Allocation, or the fee and expense application filed in the Litigation must be received or filed no later than December 5, 2019 with the CLERK OF THE COURT, UNITED STATES DISTRICT COURT, EASTERN DISTRICT OF PENNSYLVANIA, 601 Market Street, Philadelphia, PA 19106. Any request for exclusion must be postmarked on or before December 16, 2019 to Lannett Company, Inc. Securities Litigation, c/o JND Legal Administration, PO Box 91153, Seattle, WA 98111-9416.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact counsel for Lead Plaintiffs at LEVI & KORSINSKY, LLP, NICHOLAS I. PORRITT, ESQ, 1101 30TH STREET NW, SUITE 115, WASHINGTON, D.C. 20007.

DATED: JULY 31, 2019      

BY ORDER OF THE COURT

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF
PENNSYLVANIA

1     All capitalized terms used in this Summary Notice not otherwise defined herein shall have the meanings provided in the July 12, 2019 Stipulation of Settlement (the "Stipulation"), available on the website: www.LannettSecuritiesSettlement.com.

Cision

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