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SOURCE Law Offices of Gordon Ball and Hausfeld LLP
If You Operate a Business in Tennessee and Indirectly Purchased Skelaxin for Resale Since November 4, 2005, You Could be Affected by a Proposed Class Action Settlement.
KNOXVILLE, Tenn., June 11, 2014 /PRNewswire/ -- The following statement is being issued by the Law Offices of Gordon Ball and Hausfeld LLP regarding the Skelaxin Proposed Class Action Settlement.
What is this about?
Subject to Court Approval, a Settlement has been reached in a class action lawsuit claiming that King Pharmaceuticals conspired to prevent and delay generic competition to its brand-name drug, Skelaxin, resulting in artificially high prices. The lawsuit is called Jabo's Pharmacy, Inc. v. King Pharmaceuticals, Inc. and is pending in the Circuit Court for Cocke County, Tennessee.
King denies it did anything wrong, and the Court has not decided who is right. The Court still has to decide whether to approve the Settlement. If it does, eligible Class Members may receive cash benefits.
Who is a Class Member?
You are a Class Member if you operate a business in Tennessee and indirectly purchased Skelaxin for resale since November 4, 2005. Purchasing "indirectly" means that you purchased Skelaxin from a wholesaler or distributor, rather than directly from the manufacturer. Purchasing "for resale" means that you resold the Skelaxin you purchased to consumers. Excluded from the Settlement Class are Defendant's employees, officers, directors, agents, and representatives.
What are the benefits?
King has agreed to pay $2.4 million in exchange for a release of claims asserted in this case. Subject to Court approval, the settlement funds will first be used to pay attorneys' fees, expenses, and an incentive award. The remaining amount will be distributed to Class Members who submit valid Claim Forms in proportion to their relevant purchases of Skelaxin in Tennessee, up to the amount of damages suffered. Any remaining or unclaimed funds will be distributed to charitable or not-for-profit organizations as directed by the Court. If you wish to object, you must file your objection by August 1, 2014.
How do I receive benefits?
To receive benefits you must submit a Claim Form. File online at the website below or request one by calling 1-844-491-5742, contacting us through the website below, or writing to Skelaxin Settlement Administrator, P.O. Box 550, Philadelphia, PA 19105-0550. Claim Forms submitted by mail must be postmarked on or by September 15, 2014.
What are my rights?
Submit a claim - to receive benefits, you must submit a Claim Form by the deadline. Do nothing - if you do nothing, you will not receive benefits. You will be bound by the decisions of the Court and will not be able to sue King. Exclude yourself - if you exclude yourself, you will not receive benefits, but you can pursue a lawsuit against King on your own. The exclusion deadline is August 1, 2014. Complete details of your rights and how to exclude yourself are found on the website.
The Court has scheduled a hearing to determine the fairness of the Settlement, attorneys' fees and expenses, and an incentive award. The motion for attorneys' fees and expenses and an incentive award will be filed by July 17, 2014 and will be posted on the website below. The Hearing will be held on September 22, 2014 at 9:00 a.m., in the Circuit Court for Cocke County, Tennessee at 111 Court Avenue, Newport, Tennessee. You may appear at the Hearing, but you don't have to. Payments to valid Claimants will be made only after the Court approves the Settlement and after any appeals are resolved, which may take time.
This is only a summary. Visit the website www.SkelaxinTennesseeSettlement.com for more detailed information.
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