SEATTLE, Oct. 8, 2020 /PRNewswire/ --
UNITED STATES
DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
Case No.
1:18-cv-23786-MARTINEZ-OTAZO-REYES
CHARLES STEINBERG,
individually and on
Behalf of All Others Similarly Situated,
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Plaintiff,
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v.
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OPKO HEALTH, INC.,
PHILLIP FROST,
ADAM LOGAL, and JUAN RODRIGUEZ,
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Defendants.
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SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION
AND
PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING;
AND (III) MOTION FOR ATTORNEYS' FEES AND LITIGATION
EXPENSES
This notice is for all persons and entities who purchased or
otherwise acquired the common stock of OPKO Health, Inc. ("OPKO")
during the period September 26, 2013
through September 7, 2018, inclusive
(the "Class Period"), and who were damaged thereby (the "Settlement
Class").
PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS WILL BE
AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
Pursuant to Rule 23 of the Federal Rules of Civil Procedure and
an Order of the United States
District Court for the Southern District of Florida, the above-captioned litigation (the
"Action") has been certified as a class action on behalf of the
Settlement Class, except for certain persons and entities who are
excluded from the Settlement Class by definition as set forth in
the full printed Notice of (I) Pendency of Class Action and
Proposed Settlement; (II) Settlement Fairness Hearing; and
(III) Motion for an Attorneys' Fees and Litigation
Expenses (the "Notice").
Lead Plaintiff, The Amitim Funds, has reached a proposed
settlement of the Action for $16,500,000 in cash (the "Settlement") on behalf
of the Settlement Class, that, if approved, will resolve all claims
in the Action.
A hearing will be held on December 15,
2020 at 1:30 p.m. Eastern Standard
Time, before the Honorable Jose E. Martinez either in person
at the United States District
Court for the Southern District of Florida, Courtroom 10-1, Wilkie D. Ferguson, Jr. United States Courthouse, 400 North Miami
Avenue, Miami, Florida 33128, or
by or by telephone or videoconference (in the discretion of the
Court). At the hearing, the Court will determine (i)
whether the proposed Settlement should be approved as fair,
reasonable, and adequate; (ii) whether, for purposes of the
proposed Settlement only, the Action should be certified as a class
action on behalf of the Settlement Class, Lead Plaintiff should be
certified as Class Representative for the Settlement Class, and
Lead Counsel should be appointed as class counsel for the
Settlement Class; (iii) whether the Action should be dismissed
with prejudice against Defendants, and the Releases specified and
described in the Stipulation and Agreement of Settlement dated
June 26, 2020 (and in the Notice)
should be granted; (iv) whether the proposed Plan of Allocation
should be approved as fair and reasonable; and (v) whether Lead
Counsel's application for an award of attorneys' fees and
reimbursement of expenses should be approved.
If you are a member of the Settlement Class, 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 at
OPKO Health, Inc. Securities Litigation, c/o JND Legal
Administration, P.O. Box 91360, Seattle,
WA 98111, 1-888-383-0345. Copies of the Notice and Claim
Form can also be downloaded from the website maintained by the
Claims Administrator,
http://www.OPKOHealthSecuritiesLitigation.com.
If you are a member of the Settlement Class and you purchased
OPKO common stock on a U.S. stock exchange (New York Stock Exchange
or Nasdaq), or you purchased or acquired shares through any
other means other than on the Tel Aviv Stock Exchange,
you must submit a Claim Form postmarked no later than
January 26, 2021 in order to
be eligible to receive a payment under the proposed
Settlement.
Settlement Class Members who purchased OPKO common stock
only on the Tel Aviv Stock Exchange ("TASE") do not need to
submit a Claim Form. Those Settlement Class Members will
be eligible to receive a distribution from the Settlement, if it is
approved, based on the shares they purchased on the TASE without
submitting a Claim Form.
If you are a member of the Settlement Class and wish to exclude
yourself from the Settlement Class, you must submit a request for
exclusion such that it is received no later than
November 24, 2020, 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 Lead Counsel's motion for attorneys' fees and
expenses, must be filed with the Court and delivered to Lead
Counsel and Defendants' Counsel such that they are
received no later than November 24, 2020, in accordance with the
instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, OPKO, or
its 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 Lead Counsel:
BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
John Rizio-Hamilton, Esq.
1251 Avenue of the Americas, 44th Floor
New York, NY 10020
(800) 380-8496
settlements@blbglaw.com
Requests for the Notice and Claim Form should be
made to:
OPKO Health, Inc. Securities
Litigation
c/o JND Legal Administration
P.O. Box 91360
Seattle, WA 98111
1-888-383-0345
www.OPKOHealthSecuritiesLitigation.com
By Order of the Court
View original
content:http://www.prnewswire.com/news-releases/notice-of-class-action-settlement-involving-purchasers-of-opko-health-inc-common-stock-during-the-period-of-september-26-2013-through-september-7-2018-301133684.html
SOURCE JND Legal Administration