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Robbins Geller Rudman & Dowd LLP Announces Notice of Hearing to Determine Approval of Proposed Settlement of Class Action

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SAN DIEGO--(BUSINESS WIRE)--

The following statement is being issued by Robbins Geller Rudman & Dowd LLP pursuant to an order of the United States District Court for the District of New Jersey:

 
UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY
 

ALASKA ELECTRICAL PENSION FUND, et al.,

)

No. 03-1519 (AET)

On Behalf of Themselves and All Others

)

(Consolidated)

Similarly Situated, )

 

CLASS ACTION

Plaintiffs,

)

 

)

SUMMARY NOTICE

vs. )
 
PHARMACIA CORPORATION, et al., )
 
Defendants. )
  )
 

TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF PHARMACIA CORPORATION (“PHARMACIA”) ON APRIL 17, 2000 THROUGH AUGUST 5, 2001, INCLUSIVE

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the District of New Jersey, that a hearing will be held on January 30, 2013, at 10:00 a.m., before the Honorable Anne E. Thompson at the United States District Court, District of New Jersey, Clarkson S. Fisher Federal Building & U.S. Courthouse, 402 East State Street, Courtroom 4W, Trenton, New Jersey, for the purpose of determining: (1) whether the proposed settlement of the claims in the Litigation for the principal amount of $164,000,000.00 should be approved by the Court as fair, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Litigation with prejudice; (3) whether the Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Plaintiffs' counsel for the payment of attorneys' fees and expenses and Plaintiffs' expenses in connection with this Litigation should be approved.

IF YOU PURCHASED OR ACQUIRED ANY OF THE COMMON STOCK OF PHARMACIA DURING THE PERIOD FROM APRIL 17, 2000 TO AUGUST 5, 2001, INCLUSIVE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION, INCLUDING THE RELEASE AND EXTINGUISHMENT OF CLAIMS YOU MAY POSSESS RELATING TO YOUR PURCHASE OR ACQUISITION OF PHARMACIA COMMON STOCK DURING THE CLASS PERIOD. If you have not received a detailed Notice of Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim form, you may obtain copies by writing to Pharmacia Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 8040, Corte Madera, CA 94912-8040, or on the internet at www.gilardi.com. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim postmarked no later than January 28, 2013, establishing that you are entitled to recovery.

If you purchased or otherwise acquired Pharmacia common stock and you desire to be excluded from the Class, you must submit a request for exclusion postmarked no later than January 3, 2013, 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 Stipulation of Settlement.

Any objection to the settlement must be received by each of the following recipients no later than January 3, 2013:

CLERK OF THE COURT
UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY
Clarkson S. Fisher Federal Building & U.S. Courthouse
402 East State Street, Room 2020
Trenton, NJ 08608




Class Counsel:

ROBBINS GELLER RUDMAN
& DOWD LLP
KEITH F. PARK
SCOTT H. SAHAM
655 West Broadway, Suite 1900
San Diego, CA 92101




MOTLEY RICE LLC
JOSEPH F. RICE
LANCE V. OLIVER
28 Bridgeside Blvd.
Mt. Pleasant, SC 29464



SCOTT + SCOTT LLP
DAVID R. SCOTT
156 South Main Street
P.O. Box 192
Colchester, CT 06415



Counsel for Defendants:

SIMPSON THACHER & BARTLETT LLP
LYNN K. NEUNER
425 Lexington Avenue
New York, NY 10017-3954


DLA PIPER LLP (US)
JOHN C. DOUGHERTY
6225 Smith Avenue
Baltimore, MD 21209-3600


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 Class Counsel at the addresses listed above.

 
DATED: October 12, 2012
 
BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY

Robbins Geller Rudman & Dowd LLP
Jaclyn Stark, 800-449-4900

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