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TMCNet:  The Law Firm of Berman DeValerio announce a Summary Notice of Pendency of Class Action and Proposed Settlement to All Persons or Entities Who Purchased or Otherwise Acquired the Securities of Par Pharmaceutical Companies, Inc.

[February 25, 2013]

The Law Firm of Berman DeValerio announce a Summary Notice of Pendency of Class Action and Proposed Settlement to All Persons or Entities Who Purchased or Otherwise Acquired the Securities of Par Pharmaceutical Companies, Inc.

BOSTON --(Business Wire)--

The following was released today by Berman DeValerio.

UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY




             
In re PAR PHARMACEUTICAL
SECURITIES LITIGATION Master File No. 2:06-03226 (ES) (SCM)
 
This Document Relates To:
ALL ACTIONS
 

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT, SETTLEMENT FAIRNESS
HEARING, AND MOTION FOR ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES

TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED THE SECURITIES OF PAR PHARMACEUTICAL COMPANIES, INC. ("PAR") DURING THE PERIOD FROM JULY 23, 2001, THROUGH AND INCLUDING JULY 5, 2006, AND WERE THEREBY DAMAGED.

PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS MAY BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

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 New Jersey.

  • the pendency of this action (the "Action") as a class action on behalf of the persons and entities described above (the "Class"), except for certain persons and entities who are excluded from the Class by definition; and of
  • a proposed all-cash settlement of the Action in the total amount of $8.1 million on behalf of all Class Members that will fully and finally settle all claims against and release all Defendants.

A hearing will be held before the Honorable Esther Salas, at the United States District Court for the District of New Jersey, 50 Walnut Street, Newark, New Jersey 07101 at 10:30 a.m. on July 2, 2013 (i) to determine whether the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; (ii) to determine whether the Settled Claims against the Defendants and other Released Parties should be dismissed with prejudice; (iii) to determine whether the proposed Plan of Allocation should be approved by the Court as fair and reasonable; and (iv) to consider the application of Plaintiff's Lead Counsel for attorneys' fees and reimbursement of Litigation Expenses and the application of Lead Plaintiff for a Compensatory Award.

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, 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 full printed Notice of Pendency of Class Action and Proposed Settlement, Settlement Fairness Hearing, and Motion for Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice"), with the attached Proof of Claim Form, you may obtain a copy of these documents by contacting the Claims Administrator: Par Pharmaceutical Securities Litigation, Claims Administrator, c/o A.B. Data, Ltd., PO Box (News - Alert) 170500, Milwaukee, WI 53217-8091, or by telephone at 1-866-217-4459. Copies of the Notice and Proof of Claim Form can also be downloaded from the case-specific website, www.ParSecuritiesLitigation.com, or from Plaintiff's Lead Counsel's website www.BermanDeValerio.com.

If you are a Class Member and do not exclude yourself from the Class, you will be bound by any judgment entered in the Action. To exclude yourself from the Class, you must submit a Request for Exclusion such that it is postmarked no later than April 1, 2013, in accordance with the instructions set forth in the Notice. Any objections to any of the proposed Settlement, the proposed Plan of Allocation, the request for attorneys' fees and reimbursement of Litigation Expenses, or Lead Plaintiff's request for a Compensatory Award, must be filed with the Court and delivered to Plaintiff's Lead Counsel and counsel for the Defendants such that they are postmarked no later than April 1, 2013, in accordance with the instructions set forth in the Notice.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. Inquiries, other than requests for the Notice, may be made to Lead Counsel:

Justin N. Saif, Esq.
BERMAN DEVALERIO
One Liberty Square
Boston, MA 02109
1-800-516-9926
www.BermanDeValerio.com

DATED: JANUARY 28, 2013             By Order of the Court


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