Pomerantz LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Securities of Retrophin, Inc. -- RTRX

NEW YORK, March 11, 2016 -- Pomerantz LLP announces that the United States District Court for the Southern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers of securities  of Retrophin, Inc. (NASDAQ:RTRX):

NOTICE OF PENDENCY AND SETTLEMENT OF CLASS ACTION

TO:     All persons or entities who purchased or otherwise acquired the securities of Retrophin, Inc. between June 13, 2013 and September 30, 2014, inclusive.

A hearing (the “Settlement Hearing”) shall be held before the Honorable P. Kevin Castel of the Southern District of New York at the Daniel Patrick Moynihan United States Courthouse, Courtroom 11D, 500 Pearl St., New York, NY 10007-1312, on June 10, 2016 at 2 p.m. to consider whether: (1) to permanently certify a class (the “Class”), for settlement purposes only, consisting of all persons or entities who purchased or otherwise acquired the securities of Retrophin, Inc. (“Retrophin”) between June 13, 2013 and September 30, 2014, inclusive (the “Class Period”); (2) to approve as fair, reasonable, and adequate the proposed settlement of this action (the “Action”) in exchange for $3,000,000; (3) to dismiss the Action with prejudice and to enter judgment releasing the Settled Claims against the Defendants and Released Parties; and (4) to approve the application of Lead Counsel for payment of attorneys’ fees, reimbursement of costs and expenses, and payment of a Compensatory Award to the Lead Plaintiff.

If you purchased or otherwise acquired Retrophin securities during the Class Period, you will be bound by the Settlement unless you send a letter stating that you “request exclusion from the Class in the Retrophin Securities Litigation” to be received by May 20, 2016 to: Retrophin, Inc., Securities Litigation, c/o Strategic Claims Services, Claims Administrator, P.O. Box 230, 600 N. Jackson Street, Suite 3, Media, PA 19063.

For further details, see the Notice of Proposed Settlement of Class Action, Motion for Attorneys’ Fees and Expenses, and Settlement Fairness Hearing (the “Notice”). For copies of the complete settlement documents, including the Notice, please visit https://www.strategicclaims.net/retrophin or contact the Claims Administrator toll-free at (866) 274-4004.

If you are a member of the Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release, postmarked no later than June 24, 2016, to the Claims Administrator to establish that you are entitled to recovery.

If you are a Class Member and do not exclude yourself, you can object to the Settlement by filing a signed letter with Lead Counsel saying that you object to the proposed Settlement in the Retrophin Securities Litigation. Any objection must include: (1) a written notice of an intention to appear (if you intend to appear); (2) proof of ownership of Retrophin securities and membership in the Class; (3) a detailed statement of your objections to any matters before the Court; and (4) the grounds therefor or the reasons that wish to appear and be heard, as well as all documents or writings you wish the Court to consider. To be considered, your objection must be mailed or delivered to the following address and received no later than May 20, 2016:

Jeremy A. Lieberman
Murielle Steven Walsh
POMERANTZ LLP
600 Third Avenue
20th Floor
New York, NY 10016

Any questions regarding the Settlement should be directed to Lead Counsel. Please do not contact the Court or the Clerk’s Office or Defendants’ Counsel regarding this Notice.

Dated: February 2, 2016                                

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK