Kessler Topaz Meltzer & Check, LLP Announces Pendency of Class Action on Behalf of Purchasers of Insys Therapeutics, Inc. Common Stock
Apr 06, 2020
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RADNOR, Pa., --
SUMMARY NOTICE OF PENDENCY OF CLASS ACTION AND PENDING CONSENT MOTION TO VOLUNTARILY DISMISS INSYS THERAPEUTICS, INC. FROM THE ACTION WITH PREJUDICE BASED UPON ITS BANKRUPTCY
TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED INSYS THERAPEUTICS, INC. COMMON STOCK DURING THE PERIOD FROM MARCH 3, 2015, THROUGH JANUARY 25, 2016, AND WERE DAMAGED THEREBY (THE "CLASS")
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the District of Arizona, that the above-captioned action ("Action") against Michael L. Babich, Darryl S. Baker, and John N. Kapoor (collectively, "Defendants"), has been certified as a class action on behalf of the Class, except for certain persons and entities that are excluded from the Class by definition as set forth in the full Notice of Pendency of Class Action and Pending Consent Motion to Voluntarily Dismiss Insys Therapeutics, Inc. from the Action with Prejudice Based Upon its Bankruptcy ("Notice") posted on www.InsysRXSecuritiesLitigation.com. The Class was not certified against Insys Therapeutics, Inc. ("Insys" or the "Company"), as claims against Insys are subject to an automatic and mandatory stay of litigation pursuant to 11 U.S.C. § 362 of the United States Code.
YOU ARE ALSO HEREBY NOTIFIED that the Class Representative has a pending motion for voluntary dismissal with prejudice of the claims in the Action against Insys given the Company's bankruptcy and the Class's inability to pursue claims against Insys in the Action.
IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THIS LAWSUIT. This notice provides only a summary of the information contained in the full Notice. You may obtain a copy of the Notice from the website for the Action, www.InsysRXSecuritiesLitigation.com, or by contacting the Administrator:
Insys Therapeutics, Inc. Securities Litigation
c/o A.B. Data, Ltd.
P.O. Box 170999
Milwaukee, WI 53217
If you are a Class member and do not receive a Postcard Notice regarding the Action by mail, please send your name and address to the Administrator so that if any future notices are disseminated in connection with the Action, you will receive them.
Inquiries, other than requests for the Notice, may be made to Court-appointed Class Counsel:
KESSLER TOPAZ MELTZER
& CHECK, LLP
Johnston de F. Whitman, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
Telephone: (610) 667-7706
Facsimile: (610) 667-7056
Jennifer L. Joost, Esq.
One Sansome Street, Suite 1850
San Francisco, CA 94104
Telephone: (415) 400-3000
Facsimile: (415) 400-3001
If you are a Class member, you have the right to decide whether to remain a member of the Class. If you choose to remain a member of the Class, you do not need to do anything at this time other than retain documentation reflecting your transactions in Insys common stock. You will automatically be included in the Class, and you will be bound by the proceedings in the Action, including all past, present, and future orders and judgments of the Court, whether favorable or unfavorable. If you are a Class member and do not wish to remain a member of the Class, you must take steps to exclude yourself from the Class.
If you timely and validly request to be excluded from the Class, you will not be bound by any orders or judgments in the Action, and you will not be eligible to receive a share of any money which might be recovered in the Action in the future for the benefit of the Class. To exclude yourself from the Class, you must submit a written request for exclusion postmarked no later than April 30, 2020, in accordance with the instructions set forth in the Postcard Notice or full Notice. Pursuant to Rule 23(e)(4) of the Federal Rules of Civil Procedure, it is within the Court's discretion as to whether a second opportunity to request exclusion from the Class will be allowed if there is a settlement or judgment in the Action; accordingly, this may be the only opportunity for a member of the Class to request exclusion from the Class. Moreover, if you are a Class member and you wish to object to Class Representative's pending motion to voluntarily dismiss Insys from the Action with prejudice, you must do so by no later than April 30, 2020, in accordance with the instructions set forth in the Postcard Notice or full Notice.
Further information may be obtained by contacting the Administrator as set forth above or by visiting the website www.InsysRXSecuritiesLitigation.com.
Please Do Not Call or Write the Court with Questions.
DATED: April 6, 2020 BY ORDER OF THE COURT
Source: Kessler Topaz Meltzer & Check, LLP
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