Welcome to the Depomed (n/k/a Assertio Therapeutics)
Securities Litigation Settlement Website.
The information contained on this web page is only a summary of information presented in more detail in the Notice of (I) Pendency of Class Action, Certification of Settlement, and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorney’s Fees and Reimbursement of Litigation Expenses (the “Notice”). Because this website is just a summary, you should review the Notice for additional details.
The Parties Have Reached a Proposed Settlement, Subject to Court Approval
The parties have reached a proposed settlement of this action, captioned Huang et al. v. Assertio Therapeutics, Inc. et al, Case No. 4:17-cv-04830-JST (N.D. Cal.), for a cash payment of $1,000,000 (the “Settlement”). The Settlement, if approved by the Court, will resolve all claims in this Action.
Your Rights in the Proposed Settlement
If you are a member of the Settlement Class, your rights will be affected and you may be eligible for a payment from the proceeds of the Settlement, if it receives final Court approval. The Settlement Class certified by the Court includes all persons or entities who purchased or otherwise acquired Depomed common stock between July 29, 2015 and August 7, 2017, inclusive.
You are not a Settlement Class Member if you are: (a) Defendants; (b) Defendant’s respective successors and assigns; (c) past and current executive offices and directors of Depomed, Inc. (n/k/a Assertio Therapeutics, Inc.); (d) members of the Immediate Families of the Individual Defendants; (e) legal representatives, heirs, successors, or assigns of the Individual Defendants; (f) any entity in which any of the above excluded persons have or had a majority interest; and (g) any person or entity who validly requests exclusion from the Settlement Class.
Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found in the menu at the top of this page.
If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form postmarked or submitted electronically no later than August 17, 2022.
Payments to eligible claimants will be made only after the Settlement and a Plan of Allocation are approved by the Court and any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
IMPORTANT DATES AND DEADLINES
| Date | Deadline |
|---|---|
| AUGUST 17, 2022 | Claim Filing Deadline: Claim Forms must be postmarked or submitted electronically no later than AUGUST 17, 2022 to be eligible for a payment from the Settlement. |
| JULY 7, 2022 | Exclusion Deadline: If you do not want a payment from this Settlement, but you want to keep the right to sue or continue to sue any of the Defendants on your own about the same legal issues in this case, then you must take steps to get out of the Class. This is called excluding yourself or is sometimes referred to as opting out of the Class. Requests to be excluded from the proposed Settlement must be received no later than JULY 7, 2022, in accordance with the instructions in the Notice. |
| JULY 7, 2022 | Objection Deadline: Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of litigation expenses, must be field with the Court or postmarked no later than JULY 7, 2022, in accordance with the instructions in the Notice. |
| July 28, 2022 at 2:00 p.m. | The Final Approval Hearing: A hearing will be held on July 28, 2022 at 2:00 p.m., before the Honorable Jon S. Tigar, the United States District Court for the Northern District of California, via Zoom webinar (https://www.cand.uscourts.gov/zoom/).
The Hearing will be held by the Court for the purpose of determining: (1) whether the proposed Settlement is fair, reasonable, and adequate; (2) whether the proposed Plan of Allocation should be approved; and (3) whether to approve Lead Counsel’s motion for an award of attorney’s fees and reimbursement of litigation expenses. If there are objections, the Court will consider them and will listen to people who have asked to speak at the hearing. |