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Insys Therapeutics, Inc. Securities Litigation

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This official website is maintained by the Claims Administrator under the supervision of Class Counsel in the action titled Richard Di Donato v. Insys Therapeutics, Inc., et al., No. 16-cv-00302-NVW (the "Action"), pending in the United States District Court for the District of Arizona.

Pursuant to Court Order, the Settlement Fairness Hearing for the Babich Settlement was held on November 18, 2020.

The information contained on this webpage is only a summary of the information presented in more detail in the Notice of (I) Proposed Settlement with Defendant Michael L, Babich; (II) Settlement Fairness Hearing; and (III) Motion for Litigation Expenses (the “Babich Notice”), which you can access by clicking here. Since this is just a summary, you should review the Babich Notice for additional details.

Please be advised that the Court-appointed Lead Plaintiff and Class Representative for the Court-certified Class, Clark Miller, on behalf of himself and the Class, has reached a proposed settlement of the Action with defendant Michael L. Babich (“Settling Defendant” or “Defendant Babich”) for $250,000 in cash that, if approved, will resolve all claims in the Action against Defendant Babich (“Settlement”). The terms and provisions of the Settlement are contained in the Stipulation and Agreement of Settlement between Lead Plaintiff and Defendant Michael L. Babich dated July 21, 2020 (“Stipulation”).

Please Note: This Settlement does not resolve any of the claims asserted in the Action against defendants Darryl S. Baker or John N. Kapoor (together, “Non-Settling Defendants”).

 

YOUR LEGAL RIGHTS AND OPTIONS IN THE BABICH SETTLEMENT:
SUBMIT A CLAIM FORM POSTMARKED (IF MAILED), OR ONLINE, NO LATER THAN NOVEMBER 7, 2020.

You must submit a Claim Form in order to be eligible to receive a payment from the Settlement Fund. If you are a Class Member, you will be bound by the Settlement of the Action with Defendant Babich as approved by the Court and you will give up any Released Class Representative’s Claims (defined in ¶ 44 of the Babich Notice) that you have against Defendant Babich and the other Settling Defendant’s Releasees (defined in ¶ 45 of the Babich Notice), so it is in your interest to submit a Claim Form no later than November 7, 2020.

 

Please Note: If you previously submitted a Claim Form in connection with the Baker and/or Kapoor Settlements, you need not submit another Claim Form in connection with this Settlement. Please only submit one Claim Form. See ¶ 50 of the Babich Notice.
OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN OCTOBER 28, 2020. The deadline to object to the Settlement has passed on October 28, 2020.
GO TO A HEARING ON NOVEMBER 18, 2020 AT 1:30 P.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN OCTOBER 28, 2020. The Settlement Fairness Hearing for the Babich Settlement was held on November 18, 2020.
DO NOTHING. If you are a member of the Class and you do not submit a valid Claim Form in connection with this Settlement, or the Baker and/or Kapoor Settlements, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Class, which means that you give up your right to sue about the claims that are being resolved by the Settlement with Defendant Babich and you will be bound by any judgments or orders entered by the Court in the Action.