Class Counsel Harwood Feffer LLP and Stember Feinstein Doyle Payne & Kravec and KV Pharmaceutical Company announce that a settlement has been preliminarily approved by the United States District Court for the District of Missouri in a consolidated class action lawsuit, Crocker and Bodnar v. KV Pharmaceutical Company, et al., Civil Action No.4:09-cv-00198, against KV Pharmaceutical Company ("KV Pharmaceutical"), and certain of its former officers and directors, alleging breaches of fiduciary duties under the Employee Retirement Income Security Act of 1974 ("ERISA").
A Federal Court Authorized This Notice.This is Not a Solicitation.You are Not Being Sued.
The Class consists of all participants of the KV Pharmaceutical Fifth Restated Profit Sharing Plan and Trust (the "Plan") who were invested in Class A and/or Class B shares of KV Pharmaceutical common stock in their individual accounts in the Plan at any time during the period starting on February 2, 2003 and ending on February 3, 2011 (the "Class Period"), and as to each such Person, his, her, or its beneficiaries, alternate payees (including spouses of deceased Persons who were Plan participants), and Successors-in-Interest, but excluding the Defendants.
This settlement will provide for a payment of $3 million to the Plan (minus Court-approved attorneys' fees and expenses), which will then be allocated to the accounts of participants of the Plan who had portions of their Plan accounts invested in KV Pharmaceutical Class A and/or Class B common stock during the Class Period (the Settlement"). You do not need to send in a claim or take any other action to participate in the Settlement. If you qualify, you will receive an allocation.
The Court will hold a hearing at 9:30 a.m. on May 4, 2012, in the Courtroom of Judge Carol E. Jackson of the United States District Court, Eastern District of Missouri, 111 South 10th Street, Suite 3.300, St. Louis, MO 63102, to consider whether to give final approval to the Settlement, the proposed Plan of Allocation, and a request by the attorneys representing all Settlement Class members for an award of attorneys' fees and reimbursement of expenses, as well as for Case Contribution Awards to the Named Plaintiffs. If approved, these amounts will be paid from the Settlement Fund. You may ask to speak at the hearing by filing a Notice of Intention to Appear, but you are not required to do so. Although you cannot opt out of the Settlement, you may object to all or any part of the Settlement in accordance with the Notice.
If you are a Settlement Class member and have not received a copy of the long-form Notice of Class Action Settlement that the Court has approved for distribution to Settlement Class members, and would like to receive additional information or a copy of the long-form Notice, please visit www.berdonclaims.com, or call toll-free 800-766-3330 and identify yourself as a Settlement Class member.
Inquiries should NOT be directed to the Court or the Clerk of the Court or to KV Pharmaceutical
Berdon Claims Administration LLC
Customer Service: 800-766-3330
www.berdonclaims.com
Contacts:
Berdon Claims Administration LLC
Customer Service: 800-766-3330
www.berdonclaims.com
