Public Pension Fund Group v. KV Pharm. Co.

Settled: April 23, 2014

$12.8 million cash settlement with KV Pharmaceutical Company

On April 23, 2014, the Honorable Carol E. Jackson of the United States District Court of Missouri granted final approval of a $12.8 million cash settlement with KV Pharmaceutical Company (KV) on behalf of lead plaintiffs Norfolk County Retirement System and the State-Boston Retirement System. Labaton Sucharow is court-appointed lead counsel.

The case involves allegations that KV made misstatements and omissions during the Class Period regarding the company's compliance with the regulatory requirements of the FDA and Current Good Manufacturing Practices (cGMP) in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and rule 10b-5. Lead plaintiffs also alleged that they purchased or acquired KV securities during the Class Period at artificially inflated prices and were damaged as a result.

Submit Proof of Claim
If you purchased or otherwise acquired the publicly traded securities of KV during the period between June 15, 2004 and January 23, 2009, inclusive (the Class Period), you may be eligible to recover if you submit a Proof of Claim with supporting documents by June 18, 2014.

Settlement Hearing
A settlement hearing was held on April 23, 2014, at 1:30 p.m. before Judge Jackson in Courtroom 14 North of the United States District Court for the Eastern District of Missouri, Thomas F. Eagleton U.S. Courthouse, 111 South 10th Street, St. Louis, MO 63102. The deadline for objecting to the settlement or for seeking exclusion from the class was April 2, 2014.

Copies of relevant documents can be accessed by clicking on the links to the right.