ATTENTION ALL SETTLEMENT CLASS MEMBERS - IMPORTANT UPDATE REGARDING THE SETTLEMENT HEARING
ANNOUNCEMENT: On Thursday, March 30, 2023, the U.S. District Court for the Southern District of New York granted summary judgment in favor of the Defendant and dismissed the lawsuit. Class Representatives are appealing the judgment to the U.S. Court of Appeals for the Second Circuit. Please check back on the website for further developments.
The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency of Class Action. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action
The Class Representatives in this action are Menorah Mivtachim Insurance Ltd., Menorah Mivtachim Pensions, Gemel Ltd., Phoenix Insurance Company Ltd., Meitav DS Provident Funds and Pension Ltd., whom the Court has appointed to represent the Class.
The Defendants in this action are Mylan and certain of Mylan’s former members of management and directors (collectively, the “Defendants”.)
The Third Amended Class Action Complaint (“Complaint”) alleges three categories of misconduct on the part of Mylan that make statements by Defendants to investors false and misleading: (1) Mylan knowingly misclassified the EpiPen for the purposes of the MDRP; (2) Mylan offered anticompetitive rebates on EpiPen in order to eliminate competition and inflate the price of the EpiPen; and (3) Mylan was a central participant in a massive cartel among generic drug companies that allocated the markets for, and fixed the prices of, generic drugs. This is an action for violations of Section 10(b) of the Exchange Act and Rule 10b-5 promulgated thereunder and Section 20(a) of the Exchange Act.
The Defendants emphatically deny all claims and wrongdoing asserted in the Complaint and any liability arising out of the conduct alleged therein. The Defendants deny that the EpiPen was misclassified for purposes of the MDRP; that its rebates on EpiPen were anticompetitive; or that it participated in a cartel or conspired to allocate the markets for, or fix the prices of, generic drugs. The Defendants further deny that any of the Defendants made any materially false or misleading statements regarding the alleged misconduct. The Defendants filed an answer to the Complaint on April 27, 2020, denying all material allegations and asserting multiple defenses.
The Court has not made any determination about whether the Defendants engaged in any alleged misconduct or wrongdoing.
The Court overseeing the lawsuit recently certified it to proceed as a class action. The certified Class consists of:
All persons or entities that purchased Mylan N.V. and/or Mylan N.V.’s predecessor, Mylan Inc., common stock between February 21, 2012 and May 24, 2019, both dates inclusive (the “Class Period”), excluding Defendants, current and former officers and directors of Mylan, members of their immediate families and their legal representatives, heirs, successors or assigns, and any entity in which Defendants have or had a controlling interest.
The Notice is being sent to notify you that you may be a member of the Class whose rights could be affected by this Action. It is not an expression of any opinion by the Court concerning the merits of the Action. There is no assurance that a judgment in favor of the Class will be granted. The Notice is intended to advise you of the pendency of the Action and of your rights with respect to the Action, including the right either to remain a Class Member or to exclude yourself from the Class. Please read the Notice to fully understand your rights and options.
| YOUR LEGAL RIGHTS AND OPTIONS IN THIS LAWSUIT: |
| DO NOTHING |
Stay in this lawsuit. Await the outcome. Give up certain rights.
If you wish to remain a Class Member, you are not required to do anything at this time. If you do nothing, you will remain a Class Member and will be bound by the result of any judgment, before or after trial, whether favorable or unfavorable. If you choose to remain in the Class, you will not be able to pursue a lawsuit on your own with regard to any of the issues that were or could have been decided in this Action. If you remain in the Class, you are not personally responsible for any expenses or attorneys’ fees. If there is a recovery, you may be entitled to share in the proceeds, less costs, expenses, plaintiff reimbursement award and attorneys’ fees as the Court may allow out of any recovery. |
| ASK TO BE EXCLUDED |
Get out of this lawsuit. Get no benefits from it. Keep rights.
If you desire to be excluded from the Class, you must state so in writing. Your request for exclusion must state: the name and address of the person or entity requesting exclusion, that such person or entity requests exclusion from the Class in this Action, the number of Mylan shares purchased or acquired and the date the Mylan shares were purchased or acquired, and must be signed by that person or entity requesting exclusion from the Class. Requests for exclusion must be transmitted by first class mail or overnight delivery service to the Notice Administrator at the address below. To be effective, your Request for exclusion must be postmarked no later than June 28, 2021. |
How do I obtain more information?
Detailed information about the Lawsuit is contained in the Notice available for download on the Important Documents page on this website. Additional information can also be obtained by contacting the Notice Administrator by calling toll-free 1-888-383-0351 or emailing info@MylanSecuritiesLitigation.com or mailing a letter to:
Mylan Securities Litigation
c/o JND Legal Administration
P.O. Box 91375
Seattle, WA 98111
Inquiries should NOT be directed to the Court or the Clerk of the Court.
© JND Legal Administration. All rights reserved.
