Biovail Securities Litigation
www.BiovailSecuritiesLitigationSettlement.com
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FREQUENTLY ASKED QUESTIONS

The following are some frequently asked questions and their answers. The Notice, which you received in the mail or which you can download by clicking on the word “Notice” in the column at the left, provides additional information that you should have regarding your rights and obligations in connection with the Settlement.


   Why did I get the notice package?

    You or someone in your family may have purchased Biovail Corporation common stock during the period from February 7, 2003 through and including March 2, 2004. These purchasers may be members of the class certified for purposes of settlement in this securities class action.

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   How did you get my name/address?

    We were supplied your name/address from either your broker or Biovail's transfer agent records.

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   Am I being sued?

    The only persons or entities who were sued in this action are Biovail Corporation, Eugene N. Melnyk, Brian H. Crombie, John R. Miszuk, Kenneth Howling, and Rolf Reininghaus. They are called the Defendants.

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   Who is eligible to participate in the settlement?

    In order to be eligible to participate in the settlement, you must be a Class Member. Class Members are persons or entities who purchased Biovail Corporation common stock 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. Certain persons and entities who may have purchased Biovail Corporation common stock from February 7, 2003 through and including March 2, 2004 are excluded from the Class. The response to question 6 in the "Notice" explains who is excluded from the Class.

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    How much will my payment be?

    There is no way to know now how much you might receive from the settlement fund. The share of the fund that a person who submits a valid Proof of Claim form will receive will depend on a number of factors, including (i) the total amount of Recognized Claims; (ii) how many shares of Biovail common stock the claimant bought; (iii) how much the claimant paid for the stock; (iv) when the stock was bought; and, (v) whether or when the stock was sold, and if so, for how much it was sold.  
    For more information on how your Recognized Claim will be determined, refer to the Plan of Allocation beginning on page 12 of the Notice. You can download the Notice by clicking on the link entitled "Notice."

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   How can I get a payment?

    You should have completed and submited a Proof of Claim form postmarked no later than September 8, 2008. Your claim will be evaluated, and if you have a Recognized Claim under the terms of the plan of allocation approved by the Court, you will be eligible to receive a distribution from the settlement fund. Although the filing deadline of September 8, 2008 has passed, you may still submit a fully executed Proof of Claim. However, while your claim will be processed it will be marked late. The Court may or may not accept a late claim even if it is otherwise valid.

    You should have received a Proof of Claim form with the Notice. If you did not, you can download a Proof of Claim form, either in English or French, by clicking on the link entitled “Proof of Claim”.

   Do I have to send in anything with the Proof of Claim form? If so, what?

    Yes. You are required to submit all the documentation described in the Proof of Claim form relating to your transactions in Biovail. Documentation may be photocopies of stockbrokers’ confirmation slips, monthly statements or a signed letter from your broker, on company letterhead, giving information that appears on the confirmation slip. 

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   What if I cannot provide documentation supporting all of my transactions?

    The Court requires documentation that proves that the information provided on Proof of Claim forms is accurate. Otherwise, the Claims Administrator cannot validate claims. If you cannot find or obtain the required documentation, contact your broker or account representative and ask for copies of the missing documents or advice on how best to obtain them. You may also call the Claims Administrator at 1-877-465-5582 for additional assistance.
    If you do not have all the required documentation now, please send a copy of whatever you are using to fill in the transaction information on the "Proof of Claim" form (Part IV of the form). Send whatever partial documentation you have with your Proof of Claim.
    Send any of the following:
    • Monthly stock brokerage or other investment account statements;
    • Trade Confirmation Slips; or 
    • A signed letter from your broker on firm letterhead giving all the information that would be found on a confirmation slip. 

    Each document should be clearly identified with your name and the account number it pertains to.

    Do not send original documents with the Proof of Claim form. Send photocopies. You may block out any personal information on your documentation that is not required to process your claim.

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   How do I submit a Proof of Claim?

    Please read the instructions carefully. You must sign the Proof of Claim, include documentation and mail the formand mail the form as soon as possible to the Claims Administrator at:

    In re Biovail Corporation Securities Litigation
    c/o Complete Claim Solutions, LLC, Claims Administrator
    P.O. Box 24640
    West Palm Beach, FL 33416

    Please note, the Court deadline for submitting proofs of claim has passed. You may still submit a claim form but it will be marked as a “late claim” and the Court may or may not approve it, even if it is otherwise valid.

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   What am I giving up by staying in the Class?

    The deadline for excluding yourself from the Class has passed. If you did not submit a valid request for exclusion and you are a person who is included in the Class by definition, you are in the Class and all of the Court’s orders apply to you and legally bind you. This means that, since the Effective Date of the Settlement has occurred, you have given up any rights to sue the Defendants and the other Released Parties for any and all Settled Claims (please see the answer to question 12 of the Notice for the definitions of these terms). If you have a pending lawsuit against any of the Defendants or any of the other Released Parties, speak to your lawyer in that case immediately.

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   What happens if I do nothing at all?

    If you do nothing, you will get no money from this settlement and you will not be able to start, continue, or be part of any other lawsuit against the Defendants and other Released Parties about the Settled Claims in this case, ever again.

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IMPORTANT: THIS SITE IS NOT OPERATED BY BIOVAIL CORPORATION. THIS SETTLEMENT IS SUPERVISED BY THE COURT AND IS ADMINISTERED BY A CLAIMS ADMINISTRATION FIRM THAT HANDLES ALL ASPECTS OF CLAIM PROCESSING.