|  | | 2008 News and Press Releases | | |
SETTLEMENT NEWS:
Warner Chilcott Announces Settlement of Securities Litigation
Staff Writer
PR Newswire Europe. April 29, 2008
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EXCERPT: Warner Chilcott Limited today announced that it has reached an agreement in principle to settle a securities class action lawsuit pending in the United States District Court for the Southern District of New York. The suit asserted claims under the Securities Act of 1933 on behalf of a class consisting of all those who were allegedly damaged as a result of acquiring the Company's common stock in connection with its initial public offering in September 2006. The terms of the settlement, which are subject to negotiation of definitive documentation and must be approved by the court, include a cash payment of $16.5 million, expected to be made in the second or third quarter of 2008. The majority of the settlement will be funded by insurance proceeds and it will not have a material financial impact on the Company.
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