The information contained on this web page is only a summary of information presented in more detail in the Settlement Notice. Because this website is just a summary, you should review the Notice for additional details.
This case, Insulet Corp. Securities Litigation, Civil Action No. 15-12345-MLW, brought in the United States District Court for the District of Massachusetts, arises out of allegations that Insulet Corp. (“Insulet”) and current or former Insulet officers Duane DeSisto, Allison Dorval, Brian Roberts and Charles Liamos, violated federal securities laws by making false and misleading statements about Insulet’s business, including with respect to the launch of its new flagship product, the Omnipod Eros insulin pump (“Eros”); the underlying demand for the Eros; and the nature and extent of alleged Eros-related manufacturing problems.
The Court-appointed Lead Plaintiffs, Arkansas Teacher Retirement System, the City of Bristol Pension Fund, and the City of Omaha Police & Fire Retirement System, on behalf of themselves and the other members of the Settlement Class (defined below), have reached a settlement with Defendants for $19,500,000 in cash that resolves all claims in the Action (the “Settlement”).
If you are a member of the Settlement Class, your rights will be affected and you may be eligible for a payment from the Settlement. The Settlement Class consists of:
all Persons who purchased Insulet common stock during the period commencing on May 7, 2013 through April 30, 2015, inclusive (the “Settlement Class Period”) and were damaged thereby, except for certain persons and entities who are excluded from the Settlement Class by definition (see Question 3 on page 6 of the Notice).
Please read the Notice to fully understand your rights and options.
The Court held a hearing on August 2, 2018 to consider whether the Settlement should be approved and related matters. On August 6, 2018, the Court entered an order approving the Settlement and the Plan of Allocation. An accompanying motion for Lead Counsel’s attorneys’ fees, reimbursement of Plaintiffs’ Counsel’s litigation expenses and for payments to the Lead Plaintiffs, all to be paid out of the $19.5 million settlement fund, remains pending before the Court.
Payments to eligible claimants will be made only after the Court enters the Judgment, and any appeals are resolved, and after the completion of all claims processing, which is currently ongoing. Please be patient, as this process will take some time to complete.
|LEGAL RIGHTS AND OPTIONS OF SETTLEMENT CLASS MEMBERS:|
|SUBMIT A CLAIM FORM||The Court-ordered deadline for submission of Claim Forms was September 4, 2018. The Court retains discretion to accept late claims.|