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Kessler Topaz Meltzer & Check, LLP Announces Pendency of Class Action and Proposed Settlement Involving Becton, Dickinson and Company Common Stock and Options

SEATTLE, Feb. 28, 2024 /PRNewswire/ —

UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY

INDUSTRIENS PENSIONSFORSIKRING
A/S, Individually and On Behalf of All Others
Similarly Situated,

Plaintiff,

 

v.

 

BECTON, DICKINSON AND COMPANY
and THOMAS E. POLEN,

Defendants.

Case No. 2:20-cv-02155-SRC-CLW 

 

Hon. Stanley R. Chesler
District Court Judge

 

Hon. Cathy L. Waldor
Magistrate Judge

 

 

SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND PROPOSED
SETTLEMENT; (II) SETTLEMENT HEARING; AND
(III) MOTION FOR ATTORNEYS’ FEES AND LITIGATION EXPENSES

TO:     All persons and entities who, from November 5, 2019 to February 5, 2020, inclusive, purchased or otherwise acquired Becton, Dickinson and Company (“BD”) common stock or call options, or sold BD put options, and were damaged thereby:

PLEASE READ THIS NOTICE CAREFULLY; 
YOUR RIGHTS WILL BE AFFECTED BY A 
CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the District of New Jersey (“Court”), that the above-captioned action (“Action”) has been certified as a class action on behalf of the following class: all persons and entities who, from November 5, 2019 to February 5, 2020, inclusive (“Class Period”), purchased or otherwise acquired BD common stock or call options, or sold BD put options, and were damaged thereby (“Class”). Certain persons and entities are excluded from the Class by definition as set forth in the Stipulation and Agreement of Settlement dated December 19, 2023 (“Stipulation”) and the detailed Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses (“Notice”). The Stipulation and Notice can be viewed at www.BectonSecuritiesSettlement.com.

YOU ARE ALSO HEREBY NOTIFIED that Court-appointed Lead Plaintiff and Class Representative Industriens Pensionsforsikring A/S (“Class Representative”), on behalf of itself and the Court-certified Class, has reached a proposed settlement of the Action with defendants BD and Thomas E. Polen (together, “Defendants”) for $85,000,000 in cash (“Settlement”). If approved by the Court, the Settlement will resolve all claims in the Action.

A hearing (“Settlement Hearing”) will be held on April 22, 2024 at 11:30 a.m., before the Honorable Cathy L. Waldor, United States Magistrate Judge for the District of New Jersey, either in person at the Martin Luther King Building & U.S. Courthouse, 50 Walnut Street, Newark, NJ 07101, Courtroom 4D, or by telephone or videoconference (in the discretion of the Court), to determine, among other things: (i) whether the Settlement on the terms and conditions provided for in the Stipulation is fair, reasonable, and adequate to the Class, and should be finally approved by the Court; (ii) whether the Action should be dismissed with prejudice against Defendants and the releases specified and described in the Stipulation (and in the Notice) should be granted; and (iii) whether Class Counsel’s motion for attorneys’ fees in an amount not to exceed 25% of the Settlement Fund and payment of expenses in an amount not to exceed $1,000,000 (which amount may include a request for reimbursement of the reasonable costs and expenses incurred by Class Representative directly related to its representation of the Class) should be approved. Any updates regarding the Settlement Hearing, including any changes to the date or time of the hearing or updates regarding in-person or remote appearances at the hearing, will be posted to the website www.BectonSecuritiesSettlement.com.

If you are a member of the Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. This notice provides only a summary of the information contained in the detailed Notice. You may obtain a copy of the Notice, along with the Claim Form, on the website for the Settlement, www.BectonSecuritiesSettlement.com. You may also obtain a copy of the Notice and Claim Form by contacting the Claims Administrator by mail at Becton, Dickinson and Company Securities Litigation, c/o JND Legal Administration, P.O. Box 91443, Seattle, WA 98111; by calling toll free 1-888-995-0312; or by sending an email to [email protected]. Copies of the Notice and Claim Form can also be found on Class Counsel’s website www.ktmc.com.

If you are a Class Member, in order to be eligible to receive a payment from the proposed Settlement, you must submit a Claim Form postmarked (if mailed), or online via www.BectonSecuritiesSettlement.com, no later than June 14, 2024, in accordance with the instructions set forth in the Claim Form. If you are a Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement, but you will nevertheless be bound by any releases, judgments, or orders entered by the Court in the Action.

If you are a member of the Class and wish to exclude yourself from the Class, you must submit a request for exclusion such that it is received no later than April 1, 2024, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Class, you will not be bound by any releases, judgments, or orders entered by the Court in the Action and you will not receive any benefits from the Settlement. Excluding yourself from the Class is the only option that may allow you to be part of any other current or future lawsuit against Defendants or any of the other released parties concerning the claims being resolved by the Settlement.

Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Class Counsel’s motion for attorneys’ fees and Litigation Expenses must be filed with the Court and delivered to Class Counsel and Defendants’ Counsel such that they are received no later than April 1, 2024, in accordance with the instructions set forth in the Notice.

PLEASE DO NOT CONTACT THE COURT, THE CLERK’S OFFICE, DEFENDANTS, OR DEFENDANTS’ COUNSEL REGARDING THIS NOTICE. All questions about this notice, the Settlement, or your eligibility to participate in the Settlement should be directed to Class Counsel or the Claims Administrator.

Requests for the Notice and Claim Form should be made to the Claims Administrator:

Becton, Dickinson and Company Securities Litigation
c/o JND Legal Administration
P.O. Box 91443
Seattle, WA 98111
1-888-995-0312

[email protected]
www.BectonSecuritiesSettlement.com

All other inquiries should be made to Class Counsel:

Kessler Topaz Meltzer & Check, LLP
Sharan Nirmul, Esq.
Joshua D’Ancona, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-610-667-7706

[email protected]

BY ORDER OF THE COURT
United States District Court
District of New Jersey

SOURCE JND Legal Administration

Originally published at https://www.prnewswire.com/news-releases/kessler-topaz-meltzer–check-llp-announces-pendency-of-class-action-and-proposed-settlement-involving-becton-dickinson-and-company-common-stock-and-options-302061026.html
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