The information contained on this web page is only a summary.

 YOU MAY DOWNLOAD A FULL COPY OF THE NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT, SETTLEMENT FAIRNESS HEARING, AND MOTION FOR ATTORNEYS’ FEES AND REIMBURSEMENT OF LITIGATION EXPENSES (THE “NOTICE”) BY CLICKING HERE.

IF YOU PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF PAR PHARMACEUTICAL COMPANIES, INC. ("PAR" OR THE "DEFENDANT"), BETWEEN JULY 23, 2001 AND JULY 5, 2006, INCLUSIVE (THE "CLASS PERIOD"), YOU MAY BE ELIGIBLE FOR A PAYMENT FROM A CLASS ACTION SETTLEMENT. 

Your legal rights are affected whether you act or do not act.  Please read the Notice carefully.

Security and Time Period:  Par Pharmaceutical Companies, Inc. common stock purchased or acquired between July 23, 2001 and July 5, 2006, inclusive.

These rights and options—and the deadlines to exercise them—are explained in the Notice.  Please note the date of the Settlement Hearing—currently scheduled July 2, 2013 at 10:30 a.m.—is subject to change without further notice.  If you plan to attend the hearing, you should check with Plaintiff’s Lead Counsel as set forth below, or with the Court, to be sure that no change to the date and time of the hearing has been made.

The Court in charge of this case must decide whether to approve the settlement.  Payments will be made if the Court approves the settlement and, if there are any appeals, after appeals are resolved.  Please be patient.

SUMMARY OF THE NOTICE

Statement of Class’ Recovery:  Subject to Court approval, and as described more fully below, Lead Plaintiff on behalf of the Class, has agreed to settle all claims that arise out of or are based upon or relate to the allegations or facts asserted in the Action and the purchase or other acquisition, sale or other disposition, or decision to hold or holding of Par securities during the Class Period that were or could have been asserted against the Defendants and the Released Parties in the Action in exchange for a total of $8,100,000 (the “Total Settlement Amount”). The Settlement Amount will be deposited into an interest-bearing escrow account (the “Settlement Fund”). The Net Settlement Fund (the Fund less Taxes, Notice and Administration Costs, attorneys’ fees and Litigation Expenses awarded to counsel representing Lead Plaintiff and the Class, and any Compensatory Award awarded to Lead Plaintiff) will be distributed in accordance with a plan of allocation (the “Plan of Allocation”) that will be approved by the Court and will determine how the Net Settlement Fund shall be allocated to members of the Class. The proposed Plan of Allocation is included in the Notice.

Statement of Average Amount of Damages Per Share:  The parties do not agree on the average amount of damages per share that would be recoverable if Lead Plaintiff were to prevail.  Lead Plaintiff’s damages expert estimates that approximately 35 million shares of Par common stock purchased by Class Members during the Class Period may have been affected by the conduct at issue in the Action.  Based on these figures, if claims are made with respect to all of the estimated affected shares, the average per-share recovery from the Total Settlement Fund is estimated to be approximately $0.23 per share of common stock, before the deduction of attorneys’ fees, costs, and expenses and any Compensatory Award to Lead Plaintiff, as approved by the Court.  Class Members should note, however, that these are only estimates based on the overall number of potentially damaged shares in the Class.  Some Class Members may recover more or less than these estimated amounts depending on, among other factors, when and the prices at which their shares were purchased or sold.  Defendants deny that any shares of Par common stock were damaged as Lead Plaintiff has alleged.  Defendants assert that they were prepared to establish that the prices of Par common stock were not inflated as the result of any allegedly false or misleading public statements by the Defendants.

Attorneys’ Fees and Litigation Expenses:  Plaintiff’s Lead Counsel Berman DeValerio will apply to the Court for an award of attorneys’ fees in an amount not to exceed 33⅓% of the Total Settlement Fund.  In addition, Plaintiff’s Lead Counsel will apply for the reimbursement of Litigation Expenses paid or incurred in connection with the prosecution and resolution of the claims against the Defendants, in an amount not to exceed $675,000, and Lead Plaintiff will apply to the Court for a Compensatory Award in compensation for the time incurred by Lead Plaintiff in connection with this Litigation for the benefit of the Class.  Any fees and expenses awarded by the Court will be paid from the Settlement Fund.  Class Members are not personally liable for any such fees or expenses.  If the Court approves Plaintiff’s Lead Counsel’s fee and expense application and Lead Plaintiff’s Compensatory Award, the average cost per share will be approximately $0.10 per share of common stock.

More Information:

If you have questions, you may call the Par Pharmaceutical Securities Litigation Settlement Help Line at 866-217-4459 or email info@ParSecuritiesLitigation.com.