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Robbins Geller Rudman & Dowd LLP Announces a Class Has Been Certified in the Diplomat Pharmacy Securities Litigation

By: via Business Wire

The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Diplomat Pharmacy Securities Litigation:

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF ILLINOIS

EASTERN DIVISION

 

 

CHASE MORTIMER, Individually and on

Behalf of All Others Similarly Situated,

 

Plaintiff,

 

vs.

 

DIPLOMAT PHARMACY, INC., et al.,

 

Defendants.

)

)

)

)

)

)

)

)

)

)

)

)

Case No. 1:19-cv-01735

(Consolidated)

 

CLASS ACTION

 

Honorable John F. Kness

 

SUMMARY NOTICE

 

 

TO: ALL PERSONS WHO PURCHASED DIPLOMAT PHARMACY, INC. (“DIPLOMAT”) COMMON STOCK FROM FEBRUARY 26, 2018 THROUGH AND INCLUDING NOVEMBER 11, 2019, AND WERE DAMAGED THEREBY

THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of Illinois, Eastern Division (the “Court”) and Rule 23 of the Federal Rules of Civil Procedure, that (i) the above-captioned litigation (the “Litigation”) has been preliminarily certified as a class action on behalf of a class of all Persons who purchased Diplomat common stock from February 26, 2018 through and including November 11, 2019, and were damaged thereby, except for certain Persons excluded from the Class as defined in the full printed Notice of Pendency and Proposed Settlement of Class Action (“Notice”), which is available as described below; and (ii) Lead Plaintiff and Defendants in the Litigation have reached an agreement to settle the Litigation for $15.5 million in cash (the “Settlement”). If the Settlement is approved, it will resolve all claims in the Litigation. Any capitalized terms used in this Summary Notice that are not otherwise defined herein shall have the meanings ascribed to them in the Amended Stipulation of Settlement dated January 24, 2022 (the “Stipulation”), and the Notice.

A hearing will be held on June 6, 2022, at 9:30 a.m., before the Honorable John F. Kness, at the Everett McKinley Dirksen U.S. Courthouse, 219 South Dearborn Street, Chicago, Illinois 60604, for the purpose of determining: (1) whether the proposed Settlement of the claims in the Litigation for the sum of $15,500,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether a Class should be certified for purposes of the Settlement; (3) whether, thereafter, this Litigation should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation; (4) whether the proposed Plan of Allocation is fair, reasonable, and adequate and therefore should be approved; and (5) the reasonableness of the application of Lead Counsel for the payment of attorneys’ fees and expenses incurred in connection with this Litigation, together with the interest earned thereon (and any payment to the Lead Plaintiff pursuant to the Private Securities Litigation Reform Act of 1995 in connection with its representation of the Class).

If you purchased Diplomat common stock during the period between February 26, 2018 and November 11, 2019, inclusive, your rights may be affected by the settlement of this Litigation. If you have not received a detailed Notice and a copy of the Proof of Claim and Release form (“Proof of Claim”), you may obtain copies (as well as a copy of the Stipulation) by writing to Diplomat Securities Litigation 2021, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 43361, Providence, RI 02940-3361, or by downloading this information at www.DiplomatSecuritiesLitigation.com. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must either submit a Proof of Claim online at www.DiplomatSecuritiesLitigation.com by April 27, 2022, or by mail postmarked no later than April 27, 2022, establishing that you are entitled to recovery.

If you desire to be excluded from the Class, you must submit a request for exclusion postmarked by April 27, 2022, in the manner and form explained in the detailed Notice referred to above. All Members of the Class who do not timely and validly request exclusion from the Class will be bound by any judgment entered in the Litigation pursuant to the terms and conditions of the Stipulation.

Any objection to the Settlement must be mailed or delivered to the Clerk of the Court and counsel for the Settling Parties at the addresses below such that it is received no later than May 16, 2022:

Court:

Clerk of the Court

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF ILLINOIS

219 South Dearborn Street

Chicago, IL 60604

Counsel for Lead Plaintiff:

Theodore J. Pintar

ROBBINS GELLER RUDMAN & DOWD LLP

655 West Broadway, Suite 1900

San Diego, CA 92101

Counsel for Defendants:

James W. Ducayet

SIDLEY AUSTIN LLP

One South Dearborn Street

Chicago, IL 60603

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact counsel for Lead Plaintiff at the address listed above or go to the following website: www.DiplomatSecuritiesLitigation.com.

DATED: January 27, 2022

BY ORDER OF THE COURT

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF ILLINOIS

 

Contacts

Media:

Robbins Geller Rudman & Dowd LLP

Shareholder Relations

Rick Nelson

(619) 231-1058

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