Why is there a Settlement with Novartis Sample Clauses

Why is there a Settlement with Novartis. The Settlement is the product of extensive negotiations between EPP Class Counsel and counsel for Novartis, after lengthy, hard-fought litigation. At the time of the Settlement, (i) fact discovery was complete, (ii) expert reports had been exchanged and experts examined, and (iii) motions for class certification and summary judgment were fully-briefed and awaiting resolution by the Court. By settling, the XXXx and Novartis avoid the cost and risks of trial and possible appeals. The Settlement, if approved by the Court, ensures that the End-Payor Class will receive compensation for harm arising from Defendants’ alleged scheme to delay the market entry of less expensive, generic versions of Exforge. XXXx and XXX Class Counsel believe that the terms of the Settlement, including payment by Novartis of $30 million in exchange for a release of the End-Payor Class’s claims against Novartis are fair, adequate, and reasonable, and in the best interests of the Class.
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Related to Why is there a Settlement with Novartis

  • Why Is There A Settlement? The Court has not decided whether the Plaintiff or the Defendant should win this case. Instead, both sides agreed to a Settlement. That way, they avoid the uncertainties and expenses associated with ongoing litigation, and Class Members will get compensation sooner rather than, if at all, after the completion of a trial. WHO’S INCLUDED IN THE SETTLEMENT?

  • Authority to Enter Into Settlement Agreement 5.1 CAG represents that its signatory to this Settlement Agreement has full authority to enter into and legally bind CAG to this Settlement Agreement.

  • What Does The Settlement Provide The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court. Class Members fall into two categories: Current Participants and Former Participants. Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing Plan accounts. Former Participants who are entitled to a distribution will receive their distribution as a check mailed to their last known address or, if they elect, as a rollover to a qualified retirement account. In addition to the monetary component of the Settlement, as discussed above, Defendant agreed that the Plan’s fiduciaries will conduct a RFP process for recordkeeping services to the Plan. Within the first year following final approval of the Settlement, Defendant has agreed to publish a communication to then current Plan participants explaining the risks and benefits of the Plan’s money market fund investment option. Defendant also will use an independent consultant familiar with fixed income investment options in such plans who will review the investment lineup and make recommendations to the Plan’s fiduciaries regarding whether to retain the money market fund and whether to add a stable value or comparable fund. In addition, during the three-year Settlement period, Defendant has agreed to provide Class Counsel a list of the Plan’s investment options and fees. In considering investment options for the Plan, Defendant has agreed that the Plan’s fiduciaries will consider: (1) the lowest-cost share class available for any mutual fund considered for inclusion in the Plan as well as other criteria applicable to different share classes; (2) the availability of revenue sharing rebates on any share class available for any mutual fund considered for inclusion in the Plan; and (3) the availability of collective trusts, to the extent such investments are permissible and are otherwise identical to a particular mutual fund considered for inclusion in the Plan All Class Members and anyone claiming through them will fully release the Plan as well as Defendant and its “Released Parties” from “Released Claims.” The Released Parties include (a) Defendant and its insurers,

  • Enforcement of Settlement Agreement 11.1 Any party may file suit before the Superior Court of the County of Los Angeles, consistent with the terms and conditions set forth in paragraphs 11.2 and

  • Memorandum of Understanding/Settlements The Parties recognize that during the term of this Agreement situations may arise which require that terms and conditions not specifically and clearly set forth in the Agreement must be clarified or amended. Under such circumstances, the PBA is specifically authorized by employees to enter into the settlement of grievance disputes or memorandum of understanding which clarifies or amends this Agreement, without having to be ratified by employees.

  • Settlement of Disputes between the Contracting Parties 1. Disputes between the Contracting Parties concerning the interpretation or application of this Agreement should, if possible, be settled through diplomatic channels.

  • Monetary Settlement Terms 3.1 Civil Penalty Payment

  • Settlement Terms Settlement Currency: USD

  • If Settlement Agreement is Terminated (1) If this Settlement Agreement is not approved, is terminated in accordance with its terms or otherwise fails to take effect for any reason:

  • Agreement Settlement Agreement Settlement will be used to confirm the offer and delivery of A&D 63 Services by County and determine satisfaction of the minimum performance requirements and quality measures, based on data properly reported in accordance with Section 3., “Special Reporting Requirements” above.

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