Www.Gcginc.com/Cases/Mannkind – MannKind Securities Class Action Lawsuit Settlement
The MannKind Securities Class Action Lawsuit Settlement which you can find out more about at the www.gcginc.com/cases/mannkind site is about the common stock that has the symbol MNKD. The amount of the settlement is $16 million. You may be able to get a portion of this money if you bought the stock anywhere between May 4, 2010 to February 11, 2011. You must also have suffered damages from this purchase. the reason for the lawsuit is that the company’s stock price was articially inflated. This was due to some misleading statements to FDA bout the application and testing for AFREZZA. This is an inhaled insulin combination. So if you were an investor, you will be affected.
The MannKind Securities Class Action Lawsuit Settlement fund is in cash and shares. There are about 2,777,778 shares for this. If for some reason the price of the stock on NASDAQ falls below $1 per share, an additional $1 million will be included in the settlement funds. How much you get will depend on how many shares that you have bought. How much you get will also depend on the number of people who file valid claims. You can get the claim form at the settlement website at www.gcginc.com/cases/mannkind.
The deadline for you to file a claim in order to get compensation in this case is January 4, 2013. You can get it by clicking on the Claim Form button on the right. You will be able to view it and download it. There is a list of instructions on how to fill it out and what you need to do. There is also an address that you will be able to send the form to. You will have to enter the number of shares that you have bought by the close of trading on May 3, 2010. You must provide documentation to prove that this is true. So make sure that you have that. When you submit your claim form, the Claims Administrator will let you know of the receipt of your claim and the release. This will happen within 60 days. Your application is not complete until you get this acknowledgement. The acknowledgement can be in the form of a postcard or an email. If after 60 days you have not received anything, then you should contact the Claims Administrator. A phone number is provided at the website. If for some reason you move after you filed, you have to provide your new address.
You also have other legal actions that you can take. This includes the deadline for excluding yourself. This deadline is on November 19, 2012. Basically if you do not want to take part and you would rather sue the company on your own and take your chances on getting more money than you would get if you stayed as part of the settlement class, then you will need to do this. You have to specify what you want in your request. Make sure you mention the lawsuit and the settlement. Your information must be accurate and you must sign your letter. Otherwise it will not be considered valid.
In addition to that if you wish to object but still take part and get compensation you can also do that. The deadline for this is November 26, 2012. You have to send in your request in writing. You will have to specify what it is that you want and in what case. You really have to be very specific and you have to make sure that you sign the letter of request to object. The Settlement Hearing or what is also known as the Final or Fairness Hearing will be held on December 17, 2012. You all allowed to not attend this if you do not want to go. However, some people like to go to the hearing to find out about the objections and any appeals. The reason for this is because if there are objections or appeals, then the payment will be delayed until all the objections and appeals have been satisfactorily settled. If there are objections or appeals, then payment can take a long time. It may even take as long as a year or more. However, if you do not want to go to the court or find out about any objections or appeals that have been filed, you will not be penalized in any way whatsoever.
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