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.
If you are a member of the Settlement Class, you are subject to the Settlement. 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.
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.
Payments to eligible claimants will be made only after the completion of all claims processing. Please be patient, as this process will take some time to complete.
On April 8, 2024, Plaintiff’s Counsel filed a Motion for the Approval of Distribution Plan which is currently pending before the Court. Once the Court approves this motion, the initial distribution of funds will occur in 4 -6 weeks.
| YOUR LEGAL RIGHTS IN THIS LAWSUIT: |
| SUBMIT A CLAIM FORM POSTMARKED (IF MAILED), OR ONLINE, NO LATER THAN SEPTEMBER 26, 2022. |
This is the only way to be eligible to receive a payment from the Settlement Fund. If you are a Settlement Class Member and you remain in the Settlement Class, you will be bound by the Settlement as approved by the Court and you will give up any Released Plaintiff’s Claims (defined in paragraph 31 of the Notice) that you have against Defendants and the other Defendants’ Releasees (defined in paragraph 32 of the Notice), so it is in your interest to submit a Claim Form. |
| DO NOTHING. |
If you are a member of the Settlement Class and you do not submit a valid Claim Form, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Settlement Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action. |
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.
© JND Legal Administration. All rights reserved.
