SAN JOSE, Calif., Oct. 19 /PRNewswire/ -- The following release was issued today by the law firms BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP and BARRACK, RODOS & BACINE:
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
SAN JOSE DIVISION
In re McKESSON HBOC, INC. (NYSE: MCK) SECURITIES LITIGATION
Master File No. 99-CV-20743 RMW (PVT)
And Related Cases
This Document Relates To: ALL ACTIONS.
TO: (1) ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED PUBLICLY TRADED SECURITIES OF HBO & COMPANY ("HBOC") DURING THE PERIOD FROM JANUARY 20, 1997 THROUGH AND INCLUDING JANUARY 12, 1999, AND ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED CALL OPTIONS OR SOLD PUT OPTIONS OF HBOC DURING THE PERIOD FROM JANUARY 20, 1997 THROUGH AND INCLUDING APRIL 27, 1999;
(2) ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED PUBLICLY TRADED SECURITIES OR CALL OPTIONS, OR WHO SOLD PUT OPTIONS, OF MCKESSON OR OF MCKESSON HBOC, INC. DURING THE PERIOD FROM OCTOBER 18, 1998 THROUGH AND INCLUDING APRIL 27, 1999; AND
(3) ALL PERSONS OR ENTITIES WHO HELD MCKESSON COMMON STOCK ON NOVEMBER 27, 1998 AND STILL HELD THOSE SHARES ON JANUARY 12, 1999; AND WHO WERE INJURED THEREBY.
This Summary Notice is given pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order by the United States District Court for the Northern District of California (the "Court"), dated September 28, 2007.
1. This Summary Notice contains defined terms (which are indicated by initial capital letters), and the definitions of those terms can be found in the Notice of Pendency and Proposed Settlement of Class Action with Bear, Stearns & Co. Inc. (the "Notice").
2. The purpose of this Summary Notice is to inform you of a proposed Settlement and that a hearing will be held on January 4, 2008 at 9:00 a.m., before the Honorable Ronald M. Whyte in the United States Courthouse, Courtroom 6, 4th Floor, 280 South First Street, San Jose, California 95113; for the purpose of determining: (1) whether the proposed Settlement of the claims in the Litigation against Bear, Stearns & Co. Inc. ("Bear Stearns") for the sum of $10 million in cash plus interest, plus certain releases described more fully in the Notice, should be approved as fair, reasonable and adequate to the Settlement Class, and whether an order should be entered dismissing on the merits and with prejudice the claims, including Unknown Claims, that are, or ever have been, asserted in the Litigation by Lead Plaintiff and the Settlement Class against Bear Stearns, and barring and enjoining the institution and prosecution by all Settlement Class Members of any action against the Bear Stearns Released Persons in any court asserting any Released Claims; (2) whether the Plan of Allocation is fair and equitable and therefore should be approved in connection with this Settlement; and (3) whether the application of Lead Counsel for the payment of attorneys' fees, reimbursement of expenses and interest thereon should be approved.
The proposed Settlement Amount is in addition to the $960 million received in connection with the McKesson Settlement and the $72.5 million received in connection with the settlement with Arthur Andersen LLP (the "AALLP Settlement"), previously approved by the Court.
3. The proposed Settlement resolves all claims, including Unknown Claims, rights, causes of action, suits, matters and issues, whether known or unknown, whether asserted or unasserted, arising out of or related to the subject matters of the Litigation or claims that are or ever have been asserted by or on behalf of Lead Plaintiff or any Settlement Class Member, whether individual or class-wide, against Bear Stearns and the Bear Stearns Released Persons. If approved, the Settlement will resolve all of the claims that Settlement Class Members brought against Bear Stearns or the Bear Stearns Released Persons or could have brought in this Litigation completely. In addition, pursuant to the Bear Stearns Settlement, Bear Stearns has dismissed with prejudice its appeal to the Court of Appeals for the Ninth Circuit of the Court's order approving the McKesson Settlement, which will allow Lead Plaintiff, through Lead Counsel, to distribute the McKesson Settlement Fund. Details of the Settlement and the allocation of the Settlement Fund to Settlement Class Members can be found in the Notice. If you have not already received a copy of the Notice or a copy of the Proof of Claim form, you may obtain such information and download forms through the internet websites of Lead Counsel: http://www.blbglaw.com/settlements/mckesson_securities.html and http://www.barrack.com, or the Claims Administrator: http://www.mckessonhbocsettlement.com; or by contacting Lead Counsel:
BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
Timothy A. DeLange
12481 High Bluff Drive, Suite 300
San Diego, CA 92130
Tel: (858) 793-0070
Fax: (858) 793-0323
BARRACK, RODOS & BACINE
M. Richard Komins
3300 Two Commerce Square
2001 Market Street
Philadelphia, PA 19103
Tel: (215) 963-0600
Fax: (215) 963-0838
or the Claims Administrator:
In re McKesson HBOC Sec. Litig.
c/o Analytics Incorporated, Claims Administrator
PO Box 2005
Chanhassen, MN 55317-2005
4. If you: (i) purchased or otherwise acquired publicly traded securities of HBO & Company ("HBOC") during the period from January 20, 1997 through and including January 12, 1999, or purchased or otherwise acquired call options or sold put options of HBOC during the period from January 20, 1997 through and including April 27, 1999; or (ii) purchased or otherwise acquired publicly traded securities or call options, or sold put options, of McKesson or of McKesson HBOC, Inc. during the period from October 18, 1998, through and including April 27, 1999; or (iii) held McKesson common stock on November 27, 1998, and still held those shares on January 12, 1999 and were injured thereby, you may be a member of the Settlement Class. Excluded from the Settlement Class are: (i) all present and former defendants; (ii) members of the immediate family of each individual defendant; (iii) any person who was an officer or a director of HBOC or McKesson (or their subsidiaries or affiliates) during the Settlement Class Period; (iv) any person who was an officer, director, employee or affiliate of Bear Stearns during the Settlement Class Period; (v) any person who was a partner in AALLP during the Settlement Class Period; (vi) the legal representatives, heirs, successors or assigns of any such excluded party; and (vii) any entity in which such excluded person has a controlling interest. "Officer of HBOC or McKesson" means any person employed by HBOC or McKesson who held a position at or above the level of assistant vice president. "Any entity in which such excluded person has a controlling interest" or "affiliate" means that any such entity is excluded from the Settlement Class to the extent that the entity itself has a proprietary (i.e., for its own account) interest in any Settlement Class Securities. Your rights against the Bear Stearns Released Persons (as defined in the Notice) will be affected by the Settlement. Further, if you wish to share in the distribution of the proceeds of the Settlement, you must either: (a) have filed a valid proof of claim in connection with the previous Settlements in this Litigation; or (b) timely file a valid claim, on a Proof of Claim form, no later than January 11, 2008, establishing that you are entitled to recovery.
5. If you desire to be excluded from the Settlement Class, you must file a request for exclusion by December 4, 2007, in the manner and form explained in the detailed Notice referred to above even if you previously requested to be excluded from the McKesson Settlement or the AALLP Settlement. If you request to be excluded from this Settlement, you will not be bound by the Judgment and will not share in the recovery.
6. PLEASE NOTE: IF YOU HAVE NOT PREVIOUSLY FILED A VALID PROOF OF CLAIM IN THIS LITIGATION AND FAIL TO FILE A PROPER PROOF OF CLAIM FORM, AND YOU FAIL TO FILE A TIMELY REQUEST FOR EXCLUSION FROM THE SETTLEMENT CLASS BY THE DEADLINE SET FORTH ABOVE, YOU WILL NOT SHARE IN THE SETTLEMENT, BUT YOU WILL BE BOUND BY THE FINAL JUDGMENT OF THE COURT AND YOU WILL BE ENJOINED FROM ASSERTING THE RELEASED CLAIMS AGAINST THE DEFENDANT'S RELEASED PERSONS.
7. PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.
DATED: September 28, 2007
BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA
|SOURCE BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP; BARRACK, RODOS& BACINE|
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