Onyx Shareholder Litigation
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Welcome to the Onyx Shareholder Litigation Website

This website has been established to provide general information regarding the proposed settlement of the action entitled In re Onyx Pharmaceuticals, Inc. Shareholder Litigation, Lead Case No. CIV523789 (the "Litigation") pending in the Superior Court of the State of California, County of San Mateo (the "Court"). The capitalized terms used on this website and not defined herein shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated May 25, 2016. Your rights may be affected by this settlement if you were a holder of Onyx Pharmaceuticals, Inc. ("Onyx") common stock and received consideration for your shares in the acquisition of Onyx by Amgen, Inc. ("Amgen") at the price of $125 per share which was first announced on August 25, 2013.

As more fully described in the Notice of Proposed Settlement of Class Action (the "Notice"), Onyx announced on August 25, 2013 that it had agreed to be acquired by Amgen through a tender offer, in accordance with the terms set forth in an Agreement and Plan of Merger dated August 24, 2013 (the "Merger Agreement").  Pursuant to the Merger Agreement, Onyx shareholders received $125 per share in an all-cash transaction valuing the Company at approximately $10.4 billion.  

On August 28, 2013, Plaintiff Philip J. Rosen filed a class action complaint with the Court on behalf of a class of Onyx shareholders challenging the Merger. On September 3, 2013, Plaintiff Louisiana Municipal Police Employees' Retirement System filed a class action complaint in the Court, raising substantively similar claims against identical defendants.  Ultimately, six class action cases were filed in the Court challenging the Merger, raising substantively similar allegations against largely similar groups of defendants.

On October 1, 2013, the tender offer closed and Amgen completed the Merger, with Onyx becoming a wholly-owned subsidiary of Amgen.

From the Fall of 2013 through October 2015, the parties conducted extensive adversarial discovery.  On February 12, 2016, the parties reached an agreement-in-principle to settle the Litigation and thereafter, the parties negotiated the complete terms of the Settlement, which are set forth in the Stipulation.  On March 2, 2016, Plaintiffs' Lead Counsel filed a Notice of Settlement, informing the Court that the parties had entered into a Memorandum of Understanding to resolve the Litigation.

The Settlement, if approved, will result in the creation of a cash settlement fund of $30,000,000 (the "Settlement Amount").  The Settlement Amount, plus accrued interest and minus the costs of the Notice and all costs associated with the administration of the Settlement, as well as attorneys' fees and expenses, as approved by the Court (the "Net Settlement Fund"), will be distributed to Class Members who submit valid and timely Proofs of Claim (the "Settlement Payment Recipients") pursuant to the Plan of Allocation described in the Notice. The Net Settlement Fund will be disbursed by the Claims Administrator to the Settlement Payment Recipients and will be allocated on a pro rata, equal per-share basis amongst the Settlement Payment Recipients based on the number of shares of Onyx common stock you held at the time of the closing of the Merger.

The Court appointed the law firms of Robbins Geller Rudman & Dowd LLP and Block & Leviton LLP to represent you and other Class Members. These lawyers are called Plaintiffs' Lead Counsel.  If you want to be represented by your own lawyer, you may hire one at your own expense.

Although the information in this website is intended to assist you, it does not replace the information contained in the Notice of Pendency of Class Action previously sent to Class Members on or around May 5, 2015 and Stipulation. These and other case documents can be found and downloaded by clicking on the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully and in their entirety.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

SUBMIT A CLAIM FORM The only way to be eligible to receive a payment from the Settlement. Proofs of Claim must be postmarked (if mailed) or received (if submitted online) no later than November 14, 2016.
EXCLUDE YOURSELF All Class Members, regardless of whether they submit a Proof of Claim, shall be bound by all determinations and judgments in this Litigation, including the Judgment, unless they validly requested exclusion from the Class in response to the Notice of Pendency of Class Action sent to Class Members on or about May 5, 2015.
OBJECT Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees, costs, and expenses. You will still be a member of the Class and retain the right to submit a timely Proof of Claim. Objections must be filed with the Court and mailed to Plaintiffs' Lead Counsel and Defendants' counsel by October 19, 2016.
GO TO THE HEARING ON NOVEMBER 18, 2016 Ask to speak in Court about the fairness of the Settlement. Requests to speak must be filed with the Court and mailed to Plaintiffs' Lead Counsel and Defendants' counsel by October 19, 2016.
DO NOTHING Receive no payment. You will, however, still be a member of the Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Defendant Parties about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court.

DEADLINES

Submit a Claim Form:  November 14, 2016               
File an Objection:  October 19, 2016
Court Hearing on Fairness of Settlement:  November 18, 2016