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The Rossbacher Law Firm, Hagens Berman Sobol Shapiro LLP, Wilentz Goldman & Spitzer, P.A., Reed Smith LLP and Thompson Hine LLP, Announce the Proposed Settlement of a Class Action Lawsuit Concerning Estratest and Solvay Pharmaceuticals, Inc.
Date:8/24/2009

LOS ANGELES, Aug. 24 /PRNewswire/ -- The following statement is being issued by The Rossbacher Firm, Hagens Berman Sobol Shapiro LLP, Wilentz Goldman & Spitzer, P.A., Reed Smith LLP, and Thompson Hine LLP pursuant to an Order of the Superior Court of the State of California, for the County of Los Angeles, Central Civil West:

If You Made a Payment or Co-Payment For the Purchase of the Hormone Replacement Therapy Drugs Estratest or Estratest H.S. in California, You Could Benefit From A Class Action Settlement

Read This Notice and visit www.EstratestLitigation.com for a Claim Form

The Los Angeles County Superior Court has authorized this notice.

This is not a solicitation for a lawyer

Para una notificacion en espanol, visitar www.EstratestLitigation.com

California Only Case

I. WHAT IS THIS NOTICE ABOUT?

Since August 2003, two class action lawsuits have been pending in California state court. The lawsuits, filed by individuals, have been brought on behalf of any person or Third Party Payor ("TPP") who paid any part of the cost of Estratest or Estratest H.S. (collectively referred to as "Estratest"), purchased in California at any time since August 7, 1999. The lawsuits exclude persons with pending claims against Solvay Pharmaceuticals, Inc. ("Solvay") for personal injury or wrongful death, and also exclude persons or TPP's who purchased Estratest for purposes of resale (the "Class"). Plaintiffs assert claims against Solvay for violations of California state unfair competition and false and deceptive advertising laws in connection with Solvay's marketing of Estratest. Solvay denies the claims asserted by plaintiffs and has denied that it engaged in unfair, false or deceptive marketing related to Estratest. Solvay further maintains that purchasers have not been injured and are not entitled to any monetary damages or other forms of relief. A California state court certified a California Class on May 1, 2008. The parties have agreed to a settlement of the litigation.

II. WHAT IS ESTRATEST AND HOW WAS IT USED?

Estratest is a prescription hormone replacement therapy drug within a class of drugs prescribed for the treatment of moderate to severe vasomotor symptoms associated with menopause in patients whose symptoms are not relieved by estrogen alone.

III. WHAT ARE THE TERMS OF SETTLEMENT?

Solvay has agreed to pay $30 million dollars into a Settlement Fund to pay refunds to purchasers of Estratest. The Settlement Fund will also be used to pay for the reasonable costs of notice to the California Class, the costs of claims administration, and reasonable attorneys' fees, expenses, and Plaintiff's incentive awards to be approved by the Court. Purchasers will be allowed to obtain refunds not to exceed 30% of the purchase price paid for Estratest. Funds remaining after disbursements, if any, will be distributed by cy pres per Court Order consistent with Cal. Code Civ. Proc. Section 384 and the Settlement Agreement. In order to obtain a refund, Class Members must timely submit a claim form stating their total out of pocket expenditures for Estratest during the Class period. The Settlement provides a release by Class Members of any current or future California non-personal injury claims against Solvay relating to Solvay's marketing, advertising and sale of Estratest, including representations about the regulatory status of Estratest. If the Court approves the settlement and it becomes final, the class action lawsuits will be dismissed, with prejudice, and Class Members will not be able to sue Solvay in the future based upon the same claims.

IV. WHAT ARE MY RIGHTS?

If you believe you are a member of the Class and wish to participate in the settlement you must submit a claim form to the Claims Administrator at the address listed below, postmarked on or before February 12, 2010. You may file a motion with the Court for permission to appear, intervene, and/or object, filed, served, and received on or before November 2, 2009. A Final Approval Hearing has been scheduled for December 2, 2009 at 10:00 a.m. at the Los Angeles County Superior Court, 600 South Commonwealth Avenue, Department CCW - 309, Los Angeles, CA 90005, at which time the Court will consider the adequacy and fairness of the settlement and any fee application. All motions to make an appearance, intervene and/or object at the Final Approval Hearing must be filed with the Court at the above address. Any documentation that you file with the Court must also be mailed on or before November 2, 2009 to Co-Lead Counsel for the Plaintiff Class - Henry H. Rossbacher, The Rossbacher Firm, 811 Wilshire Blvd., Suite 1650, Los Angeles, CA 90017 and Counsel for Defendant - David E. Stanley, Reed Smith LLP, 355 South Grand Ave., Suite 2900, Los Angeles CA 90017.

V. HOW DO I GET MORE INFORMATION?

If you have questions about this Notice of the Settlement, wish to obtain additional information, or wish to request that a copy of the Notice and Claim Form be mailed to you, you should call 888-821-8161, visit the Settlement website address: www.EstratestLitigation.com or write to Estratest Settlement Litigation, c/o Gilardi & Co. LLC, P.O. Box 8060, San Rafael, CA 94912-8060. You may also seek advice and guidance from an attorney, at your own expense, if you so desire. This Notice is only a summary. For more detailed information you may review the Settlement Agreement which contains the complete terms of the Proposed Settlement. The Settlement Agreement is on file with the Clerk's Office of the Los Angeles Superior Court and is available to be inspected at the Clerk's Office at any time during regular business hours. The Settlement Agreement may also be viewed at the website addresses listed above. You may also review the pleadings, records, and other papers on file at the Clerk's Office. The Clerk of the Court for Los Angeles Superior Court is located at 600 South Commonwealth Avenue, Los Angeles, CA 90005.

PLEASE DO NOT WRITE OR TELEPHONE THE COURTS, SOLVAY OR ANY OF ITS AGENTS FOR INFORMATION ABOUT THE PROPOSED SETTLEMENT OR THIS LAWSUIT.

Dated: August 11, 2009 The Honorable Anthony J. Mohr


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SOURCE The Rossbacher Firm
Copyright©2009 PR Newswire.
All rights reserved

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