Updated 4-12-2011 The distribution will take place on 4-13-2011.
Please check the Frequently Asked Questions section if you have questions about your distribution check.
A Settlement for $138 million in cash and certain corporate governance changes was agreed to in the securities class action styled In re Biovail Corporation Securities Litigation, Master File No. 03-CV-8917 (GEL), in the United States District Court for the Southern District of New York (“U.S. Action”).
The Class consisted of: all persons and entities who purchased the common stock of Biovail on the New York Stock Exchange or other U.S. stock exchanges or the Toronto Stock Exchange or other Canadian stock exchanges during the period from February 7, 2003 through and including March 2, 2004.
The Settlement was approved by the Court.
No new Proofs of Claim may now be accepted for any reason whatsoever.
No further Exclusion requests may be submitted.
At this time claims processing has concluded.
There is one group of claims that was rejected that has filed an appeal of the rejection of their claims.
The District Court has approved a distribution to the accepted claimants, subject to a reserve being held from the distributions to those claimants whose payments would otherwise be $100 or more, so that funds will be available if the claimants pursuing their appeal are successful.
The distribution to the accepted claimants is scheduled for April 13, 2011.