Mississippi PERS v. Endo International Securities Litigation

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Mississippi PERS v. Endo International Securities Litigation
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If you purchased or otherwise acquired the publicly traded common stock of Endo International plc (“Endo” or the “Company”) issued in or traceable to the Company’s June 5, 2015 secondary offering of common stock, you may be entitled to a payment from a class action settlement.

The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency of Class Action, Proposed Settlement, and Motion for Attorneys’ Fees and Expenses (the “Notice”), which you can access by clicking here.  Since this website is just a summary, you should review the Notice for additional details.

The purpose of the Notice is to inform you of the pendency of this securities class action (the “Action”), the proposed settlement of the Action (the “Settlement”), and a hearing to be held by the Court to consider: (i) whether the Settlement should be approved; (ii) whether the proposed plan for allocating the proceeds of the Settlement (the “Plan of Allocation”) should be approved; and (iii) Class Counsel’s application for attorneys’ fees and expenses.  The Notice describes important rights you may have and what steps you must take if you wish to participate in the Settlement, wish to object, or wish to be excluded from the Settlement Class.

If approved by the Court, the Settlement will create a $50 million cash fund, plus earned interest, for the benefit of eligible Settlement Class Members, after the deduction of attorneys’ fees and expenses awarded by the Court, Notice and Administration Expenses, and Taxes. This is an average recovery of approximately $1.80 per allegedly damaged share, before these deductions.

The Settlement resolves claims by plaintiff Public Employees’ Retirement System of Mississippi (“Plaintiff” or “Mississippi PERS”) that have been asserted on behalf of the Settlement Class (defined below) against the Company; Rajiv Kanishka Liyanaarchchie De Silva, Suketu P. Upadhyay, Daniel A. Rudio, Roger H. Kimmel, Shane M. Cooke, John J. Delucca, Arthur J. Higgins, Nancy J. Hutson, Ph.D, Michael Hyatt, William P. Montague, Jill D. Smith, William F. Spengler (collectively, the “Individual Defendants” and with Endo, the “Endo Defendants”); and Goldman Sachs & Co. LLC (named herein as Goldman, Sachs & Co.), J.P. Morgan Securities LLC, Barclays Capital Inc., Deutsche Bank Securities Inc., RBC Capital Markets, LLC, Citigroup Global Markets Inc. (named here in as Citigroup Global Markets, LLC), Morgan Stanley & Co. LLC, SunTrust Robinson Humphrey, Inc., TD Securities (USA) LLC, and MUFG Securities Americas Inc. (f/k/a Mitsubishi UFJ Securities (USA) Inc.) (collectively, the “Underwriter Defendants,” and with the Endo Defendants, the “Defendants”).  It avoids the costs and risks of continuing the litigation; pays money to eligible investors; and releases the Released Defendant Parties (defined below) from liability.


If you are a Settlement Class Member, your legal rights will be affected by this Settlement whether you act or do not act. 

Please read the Notice carefully.


YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

SUBMIT A CLAIM FORM BY NOVEMBER 14, 2019

The only way to get a payment.  See Question 8 of the notice for details.

EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS BY SEPTEMBER 30, 2019

Get no payment.  This is the only option that, assuming your claim is timely brought, might allow you to ever bring or be part of any other lawsuit against Defendants and/or the other Released Defendant Parties concerning the Released Claims.  See Question 11 of the notice for details.

OBJECT BY SEPTEMBER 30, 2019

Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or Class Counsel’s Fee and Expense Application.  If you object, you will still be a member of the Settlement Class.  See Question 16 of the notice for details.

ATTENDED HEARING ON NOVEMBER 25, 2019 AT 1:30PM AND FILED A NOTICE OF INTENTION TO APPEAR BY SEPTEMBER 30, 2019

Ask to speak in Court at the Settlement Hearing about the Settlement.  See Question 18 of the notice for details. 

DO NOTHING

Get no payment.  Give up rights.



These rights and options—and the deadlines to exercise them—are explained in this Notice.

The Court in charge of this case still has to decide whether to approve the Settlement.  Payments will be made to all Settlement Class Members who timely submit valid Claim Forms, if the Court approves the Settlement and after any appeals are resolved.  Please be patient.


Please read the Notice carefully. 

If you have questions, you may call the Mississippi PERS v. Endo International Securities Litigation Help Line at 877-307-6170 or email info@endointernationalsecuritiessettlement.com.

 
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