Update on the Distribution of Net Settlement Funds
The Court has approved the distribution of the net settlement funds to eligible Court-approved Claimants who qualified for an award under the Plan of Allocation. A distribution of funds has occurred on the following date/s:
July 30, 2024

Subsequent distributions will occur on a rolling basis.

If you have any questions, please contact the Claims Administrator whose contact information is listed here below: 
866-615-0973, Info@AmnealSecuritiesLitigation.com

The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement: (II) Settlement Hearing; and (III) Motion for Attorneys' Fees and Litigation Expenses. Because this website is just a summary, you should review the Notice for additional details.

Summary of the Action and Settlement

This website relates to a securities class action (the “Action”) brought by the Plaintiff, Cambridge Retirement System ("Plaintiff"). Plaintiff alleges that Defendants, Amneal Pharmaceuticals, Inc. (“Amneal”) and certain of its officers and directors, violated the Securities Act of 1933 (“Securities Act”) by making false and misleading statements and omissions in the registration statements and prospectus for Amneal common stock issued in connection with the business combination of Amneal Pharmaceuticals, LLC (“Legacy Amneal”) and Impax Laboratories, Inc. (“Impax”). 

Plaintiff and Defendants have settled the Action for $25,000,000 in cash (the “Settlement”). On August 15, 2022, the Court held a hearing to consider final approval of the Settlement and related matters.  On August 16, 2022, the Court entered a final Judgment approving the Settlement and orders approving the Plan of Allocation and awarding attorney's fees and litigation expenses.

The Settlement Class consist of:

all persons and entities who purchased or otherwise acquired publicly traded Class A common stock of Amneal (“Amneal Common Stock”) issued in connection with the business combination between Legacy Amneal and Impax pursuant or traceable to, or registered in the Registration Statement, during the period. From May 7, 2018 through May 5, 2021, inclusive the Settlement Class Period, and were damaged thereby.

Excluded from the Settlement Class are: (i) Defendants; (ii) Officers, directors, and affiliates of Amneal, Amneal Holdings, Legacy Amneal, or Impax, currently or during the Settlement Class Period; (iii) members of the Immediate Families of any individual included in (i) or (ii); (iv) any entity in which any Defendant has or had a controlling interest; and (v) the legal representatives, heirs, successors, or assigns of any person or entity included in (i), (ii) or (iii).  Also excluded from the Settlement Class are any persons or entities who excluded themselves by submitting a request for exclusion that is accepted by the Court.

The claims administration was completed in April 2024. On April 8, 2024, Plaintiff’s Counsel filed a Motion for Approval of Distribution Plan. The Court approved the Distribution Plan on June 7, 2024. The Initial Distribution of settlement funds to eligible claimants occurred in July 2024. Subsequent distributions will occur on a rolling basis, provided that net settlement funds are available.

The Notice can be found in the menu at the top of this page.

How do I obtain more information?

Detailed information about the Action is contained in the Notice available for download on the 'Notice' page on this website. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 1-866-615-0973 or emailing info@AmnealSecuritiesLitigation.com or mailing a letter to:

Amneal Securities Litigation
c/o JND Legal Administration
P.O. Box 91234
Seattle, WA 98111

Inquiries should NOT be directed to the Court or the Clerk of the Court.