INFORMATION AND FORMS
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This website provides general information about a proposed settlement
in a class action lawsuit brought against PolyMedica Corp.
(“PolyMedica”), its subsidiary and certain of their officers and
directors in federal court in Massachusetts.
If you purchased or acquired the common stock of PolyMedica
between October 26, 1998 and December 31, 2000, inclusive (the
“Class Period”), then you could get a payment from a class action
settlement. Anyone who purchased PolyMedica during the Class
Period is a member of the “Settlement Class,” and has the right to
object to the terms of the Settlement, participate in the Settlement,
or request to be excluded from the Settlement. The information on
this site will permit you to evaluate — and pursue — each of these
options.
The Proposed Settlement: The $5.5 million
settlement amount and the interest earned thereon will constitute
the Gross Settlement Fund. The Gross Settlement Fund, less all taxes,
approved costs, fees and expenses (the "Net Settlement Fund") will be
distributed to members of the Class who submit valid, timely
Proof of Claim
forms ("Authorized Claimants") in accordance with the Plan of
Allocation. If the claims submitted by Settlement Class Members
exceed the value of the Net Settlement Fund, each Settlement Class
Member who submitted a claim will receive a pro rata share of their
claim. For a more complete discussion of the litigation, the
settlement, the requests for paying costs and fees, and your options
as a Settlement Class Member, review the
Notice
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The Settlement Hearing: The Court will hold a
hearing on September 5, 2007 to determine whether the proposed
settlement should be approved. The Court will consider the fairness
of the settlement amount and the Plan of Allocation and the
appropriateness of the requests for payment of costs, attorneys’
fees, and the expenses incurred by the named plaintiff. Any
Settlement Class Member is welcome to participate in the hearing at
his own expense.
Your Options as a Settlement Class Member: If you
are a member of the Settlement Class, you may:
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Share in the distribution of the Net Settlement Fund.
To do so, you must submit a
Proof of Claim
to the Claims
Administrator by no later than October 26, 2007.
This is the only
way to get payment. You will be entitled to share in the
distribution, in accordance with the Plan of Allocation, waiving
any and all rights that you might have to bring suit against the
Defendants for the claims raised in the Complaint.
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Request to be excluded from the Settlement Class.
You must mail your exclusion request postmarked no later than
August 22, 2007 to: Shapiro Haber & Urmy LLP, 53 State Street,
Boston, MA 02109, Attn: PolyMedica Class Action. You cannot
exclude yourself by telephone or by e-mail. If you ask to be
excluded, you will not get any settlement payment, and you cannot
object to the Settlement. You will not be legally bound by anything
that happens in this lawsuit.
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Object to the proposed Settlement, the Plan of
Allocation, and/or the requests for fees and for reimbursement of
costs. You may write to the Court setting out your objection. The
Court will consider your views if you file a proper objection
by August 26, 2007, and according to the procedures
in the Notice.
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Do Nothing. If you do nothing, you will get no
money from this settlement and you will be precluded from starting
a lawsuit, or being part of any other lawsuit about the Settled
Class Claims ever again.
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IMPORTANT DATES AND
DEADLINES
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Settlement Class Period: October 26, 1998 through and
including December 31, 2000.
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Requests for Exclusion from Class must be postmarked
on or before August 22, 2007.
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Objections must be received by the Court and
Counsel on or before August 26, 2007.
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Claim forms must be mailed to the Claims Administrator
postmarked on or before October 26, 2007.
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Settlement Hearing Date: September 5, 2007.
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CONTACTS
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For information about how to participate in the distribution of the
Net Settlement Fund, contact the Claims Administrator:
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PolyMedica Securities Litigation
c/o FRG Information Systems Corp.
P.O. Box 460, Peck Slip Station
New York, NY 10272
(800)556-9955
info@frginfosys.com
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For information about your rights under the Settlement Agreement,
contact Plaintiff’s Counsel:
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Jeffrey S. Nobel, Esq.
Schatz Nobel Izard, P.C.
20 Church Street, Suite 1700
Hartford, CT 06103
(800) 797-5499
jnobel@snilaw.com
www.snilaw.com
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