Endo International... Sound familiar? Earlier this August we posted a blog with a similar title “Endo International Settles Securities Settlement for $50 Million.”
So what’s the difference? Aside from $32.5 million.
The first settlement pertained to declining demand for Endo’s generic drugs and also alleged that Endo had conspired to fix prices, which resulted in inflated stock and later a law enforcement inquiry. Once the scheme collapsed, plaintiffs alleged, the stock price collapsed with it.
This newer settlement pertains to Endo’s role in the opioid crisis. Specifically, plaintiffs allege that “failed to disclose material adverse facts regarding the putative safety and abuse-deterrent properties of Reformulated Opana, an opioid analgesic indicated for the management of severe pain that requires daily opioid treatment.”
Here are the other key facts:
Case name: Endo International
Settlement fund: $82,500,000
Claim filing deadline: 2/7/2020
Class period: 11/30/2012 – 6/8/2017
Definition of class from settlement notice:
“All persons and entities who purchased or otherwise acquired Endo common stock or ordinary shares between November 30, 2012 and June 8, 2017, inclusive, and were damaged thereby.”
Fairness Hearing: 12/11/2019
Exclusion Deadline: 11/22/2019
Objection Deadline: 11/22/2019
How Chicago Clearing Can Help: Every day, our team files claims in a wide assortment of financial class action litigations. We are preparing claims now for potential Endo International Class members… in both settlements! If you or your clients are eligible for this litigation, or any of the other 35 settlements with upcoming deadlines, then please give us a call at 312-204-6970.