66.6 F
Washington
HomeLawScott+Scott Attorneys at Law LLP & Hedin Hall LLP Announce Notice of...

Scott+Scott Attorneys at Law LLP & Hedin Hall LLP Announce Notice of Class Action and Proposed Settlement to All Who Purchased or Acquired Shares of Viatris Inc. Pursuant to a November 2020 Merger of Mylan N.V. and Upjohn, Inc. to Form Viatris

Scott+Scott Attorneys at Law LLP & Hedin Hall LLP Announce Notice of Class Action and Proposed Settlement to All Who Purchased or Acquired Shares of Viatris Inc. Pursuant to a November 2020 Merger of Mylan N.V. and Upjohn, Inc. to Form Viatris

NEW YORK, March 11, 2024 /PRNewswire/ —

IN THE COURT OF COMMON PLEAS OF ALLEGHENY COUNTY, PENNSYLVANIA

RAJESH PATEL, Individually and on Behalf of All Others Similarly Situated,

 

                                                Plaintiff,

v.

VIATRIS, INC., PFIZER INC., MICHAEL GOETTLER, SANJEEV NARULA, BRYAN SUPRAN, MARGARET M. MADDEN, DOUGLAS E. GIORDANO, ROBERT J. COURY, IAN READ, and JAMES KILTS,

                                                Defendants.

 

)

)

)

)

)

)

)

)

)

)

)

)

)

CIVIL DIVISION

No. GD-21-13314

 

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

TO:    All Persons and entities who purchased or otherwise acquired publicly traded shares of the common stock of Viatris Inc. (ticker: VTRS) in exchange for Mylan N.V. shares directly in the stock-for-stock exchange conducted pursuant to the offering materials issued in connection with the November 2020 merger of Mylan N.V. and Upjohn, Inc. to form Viatris Inc. (the “Settlement Class”):1

Please read this notice carefully.  your rights MAY be affected by a class action lawsuit pending in this court.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Court of Common Pleas of Allegheny County, Pennsylvania (the “Court”), that the above-captioned litigation (the “Action”) is pending in the Court.

YOU ARE ALSO NOTIFIED that the Plaintiff in the Action, Rajesh Patel, has reached a proposed settlement of the Action with Defendants Viatris Inc., Pfizer Inc., Michael Goettler, Sanjeev Narula, Bryan Supran, Margaret M. Madden, Douglas E. Giordano, Robert J. Coury, Ian Read, and James Kilts (collectively, the “Defendants”), that, if approved, will (i) provide for the payment of $16,000,000.00 in cash for the benefit of the Settlement Class, and (ii) resolve, settle, dismiss and release all claims asserted in the Action against the Defendants and their Related Persons (the “Settlement”).

A hearing will be held on June 12, 2024 at 1:00 p.m. Eastern Time, before the Hon. Alan D. Hertzberg.  At the hearing, the Court will determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against all Defendants, and whether the releases specified and described in the Stipulation and Agreement of Settlement and in the Notice should be granted; (iii) whether, for purposes of the proposed Settlement only, the Action should be certified as a class action on behalf of the Settlement Class, Plaintiff should be certified as Class Representative for the Settlement Class, and Scott+Scott Attorneys at Law LLP and Hedin Hall LLP (“Lead Counsel”) should be appointed as Class Counsel; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (v) whether Plaintiff’s counsel’s application for an award of attorneys’ fees and reimbursement of litigation expenses (including an award to Plaintiff) should be approved.

If you are a member of the Settlement Class (a “Settlement Class Member”), your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund.  If you have not yet received the Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator, A.B. Data, Ltd., at Viatris Securities Litigation, c/o A.B. Data Ltd, P.O. Box 173004, 1-877-495-0969.  Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator at www.ViatrisSecuritiesSettlement.com.

If you are a Settlement Class Member, to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form online or mailed so that it is received no later than July 2, 2024, in accordance with the instructions set forth in the Claim Form.  If you are a Settlement 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 the Settlement is approved.

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than May 13, 2024, in accordance with the instructions set forth in the Notice.  If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement. 

Any objections to the proposed Settlement, the proposed Plan of Allocation, or Plaintiff’s Counsel’s Fee and Expense Application, must be filed with the Court and received on or before May 22, 2024, in accordance with the instructions set forth in the Notice.

Please do not contact the Court, the Clerk’s office, Viatris, the other Defendants, or their counsel regarding this notice.  All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.

Inquiries, other than requests for the Notice and Claim Form, should be made to:

SCOTT+SCOTT ATTORNEYS AT LAW LLP
Max A. Schwartz, Esq.
The Helmsley Building
230 Park Ave., 17th Floor
New York, NY 10169
1-800-404-7770
[email protected]

Hedin Hall LLP
David W. Hall, Esq.
Four Embarcadero Center, Suite 1400
San Francisco, CA 94104
1-415-766-3534
[email protected]

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

Viatris Securities Litigation Settlement
c/o A.B. Data Ltd
P.O. Box 173004
Milwaukee, WI  53217
www.ViatrisSecuritiesSettlement.com

                                                                                                          BY ORDER OF THE COURT

Source:
Scott+Scott Attorneys at Law
Hedin Hall LLP

1 Certain persons and entities are excluded from the Settlement Class by definition, as set forth in the long-form Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for Attorney’s Fees and Litigation Expenses (the “Notice”), a copy of which may be downloaded from the settlement website maintained by the Claims Administrator at www.ViatrisSecuritiesSettlement.com.  

SOURCE Scott+Scott Attorneys at Law LLP and Hedin Hall LLP

Originally published at https://www.prnewswire.com/news-releases/scottscott-attorneys-at-law-llp–hedin-hall-llp-announce-notice-of-class-action-and-proposed-settlement-to-all-who-purchased-or-acquired-shares-of-viatris-inc-pursuant-to-a-november-2020-merger-of-mylan-nv-and-upjohn-inc-to-302084324.html
Images courtesy of https://pixabay.com

- Part of VUGA -marketing agency

latest articles

gossip tv free

explore more

free fashion tv