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Mylan Fair Fund

Frequently Asked Questions

Background

1. What are the details of the SEC’s settlement with Mylan N.V.?

The U.S. Securities and Exchange Commission (the “SEC” or “Commission”) brought an action alleging that Mylan N.V. (“Mylan”) violated federal securities laws when Mylan failed to timely disclose a possible loss relating to a U.S. Department of Justice (“DOJ”) investigation into whether Mylan overcharged Medicaid by hundreds of millions of dollars for sales of EpiPen by misclassifying EpiPen as a “generic” or “non-innovator” drug.  Mylan paid $30 million in civil penalties to settle the action.  The Court created a Fair Fund (the “Mylan Fair Fund” or “Fair Fund) by Order dated February 19, 2020 to distribute the civil money penalties paid by Mylan to harmed investors in accordance with the terms of the Distribution Plan approved by the Court on August 17, 2021.

Eligibility

2. Who is eligible to participate in the distribution of the Fair Fund?

You may be eligible for compensation from the Mylan Fair Fund if you purchased Mylan Common Stock (“MYL”) during the period from March 2, 2015 until the market close on September 1, 2016.

3. What securities must have I purchased to be eligible to participate in the recovery?

You may be eligible for compensation from the Mylan Fair Fund if you purchased Mylan Common Stock (“MYL”) during the period from March 2, 2015 until the market close on September 1, 2016.

 Security

Symbol

CUSIP

Mylan Common Stock

MYL

N59465109

4. Who is not eligible to participate in the distribution of the Mylan Fair Fund?
  1. You are not eligible to participate in the distribution of the Fair Fund if you are or were:
    a. Any Defendant in this or any related matter;
    b. Any Person who served at any time from January 1, 2013 through the end of the Relevant Period as an officer or director of Mylan, or any subsidiary or affiliate of Mylan involved in the conduct alleged in the Complaint;
    c. Any firm, trust, corporation, or other entity in which Mylan has or had a controlling interest;
    d. Mylan’s directors’ and officers’ liability insurance carriers, and any affiliates or subsidiaries thereof;
    e. Any current or former employee of Mylan or any of its subsidiaries or affiliates who has been terminated for cause, or has otherwise resigned in connection with the conduct alleged in the Complaint;
    f. Any Person who, as of the Claims Bar Date, has been the subject of criminal charges related to the conduct alleged in the Complaint, unless and until such defendant is found not guilty in all such criminal actions prior to the Claims Bar Date, and proof of the finding(s) is included in such defendant’s timely filed Claim Form;
    g. The Distribution Agent, its employees, and those persons assisting the Distribution Agent in its role as Distribution Agent;
    h. Any affiliates, assigns, creditors, heirs, distributes, spouses, parents, children or controlled entities of any of the foregoing Persons or entities described in a – g above; or
    i. Any purchaser or assignee of another Person’s right to obtain a recovery from the Fair Fund for value; provided, however, that this provision shall not be construed to exclude those Persons who obtained such a right by bona fide gift, inheritance, devise or operation of law.
5. I was a Mylan employee and acquired MYL through an employee benefit program. Do these shares qualify me for a payment?

There are two Mylan employee benefit plans where acquiring Mylan stock was an option: (i) the Mylan Profit Sharing 401(k) plan and (ii) the Mylan Puerto Rico Profit Sharing Employee Savings Plan.  However, it is our understanding that neither of these benefit plans purchased or acquired shares of MYL during the Relevant Period.  Therefore, if you were a participant in either of these benefit plans it is unlikely you suffered a loss as a result of the conduct at issue in this case.

If you believe your participation in a Mylan employee benefit program did involve an eligible investment in MYL during the Relevant Period, you may submit a claim and we can determine the eligibility of the transactions after the claim has been fully reviewed.

Any participants that held shares of MYL directly (outside of an employee plan) must file a separate claim relating to those shares.

6. Do shares purchased by reinvesting dividends qualify for recovery?

Yes, shares purchased by reinvesting dividends are potentially eligible for recovery. Note that you must provide an account statement or other documentation for each purchase, including the date of purchase and the number of shares.

7. What is considered my official date of purchase (or sale) of my shares?

The “trade date” or “contract date” is the official date to use as the date of your transaction for purchases and/or sales.  Many broker transaction statements provide both a “trade date” and a “settlement date”.  The trade date is the correct date to use for purposes of completing a claim form.  All fees and commissions are excluded.

8. I inherited (or received as a gift) shares of MYL. Am I eligible to file a claim?

The eligibility of a claim is dependent upon when the shares of MYL were originally purchased.  The receipt of shares of MYL by gift or inheritance, for example, does not constitute a purchase for purposes of determining eligibility.  If the original owner of the MYL purchased the shares during the relevant period, you may be eligible to recover for those inherited or gifted shares.

You must include copies of broker statements or other documentation evidencing the original purchase of the MYL with your claim.  In addition, you must provide documentation of the transfer of the shares to you, such as the broker statements for the period in which the transfer occurred.  In the case of an inheritance, you should attach copies (please do not send originals) of any legal documentation showing you are the legal recipient of these shares.

If the original owner purchased the shares of MYL outside of the relevant period, the shares would not be eligible for recovery.

The Claim Form

9. How do I apply to participate in the Mylan Fair Fund? How do I file a claim?

If you would like to apply to participate in the Mylan Fair Fund, you must submit a completed claim form that is postmarked on or before April 25, 2022.  You may submit your claim form in one of the following ways:

a. You can file your claim using our online claims system here. You will enter all of your information directly into the online claim form, scan your supporting documentation, and upload the supporting documentation to your claim form.  If you are unable to scan your supporting documentation, you can mail the supporting documentation directly to the Distribution Agent at the address provided herein.  If mailing supporting documentation, you will be directed to print off a cover sheet from the website to include with your mailing.  This will ensure your documentation is included with the appropriate claim.
b.

If you prefer to complete and mail a paper claim form, you can download and print one here. Read and complete all required fields in the claim form, attach all necessary supporting documentation and mail the completed to:

Mylan Fair Fund P.O. Box 6709 Syracuse, NY 13217-6709

You can ask the Distribution Agent to mail you a claim form by calling toll free (800) 678-0888, sending an email request to info@mylanfairfund.com or by writing to the address included above. Remember to provide your complete name and mailing address. Upon receipt, read and complete all required fields in the claim form, attach all necessary supporting documentation and mail the completed claim form to the Distribution Agent.

10. What is the deadline for submitting the claim form?

The claim form must be postmarked on or before April 25, 2022.

11. Do I need to submit supporting documents with my claim form?

Yes. You must provide with your completed claim form documentation of (a) the number of shares you held as of the opening of trading on March 2, 2015 if any; (b) all purchases and sales of MYL between March 2, 2015 through and including November 30, 2016; and (c) the number of shares you held as of November 30, 2016, if any.  Please be sure the documentation confirms the details provided in your claim form.

All documentation must include adequate identifying information (i.e., your name and account number must appear on all documentation submitted). Handwritten modifications to the documentation or self-generated schedules or statements will not be accepted.  Please do not send the originals of your supporting documentation; be sure to provide copies.  Documentation should list the security, type of transaction, date of transaction, number of shares, and total amount of the transaction.

The types of documents that should be submitted to support your claim include:

  • monthly brokerage or other investment account statements;
  • trade confirmation slips; or
  • a signed letter from your broker on firm letterhead verifying the information you have provided in the claim form.

If you do not submit documents with your claim form to verify your holdings and transactions in MYL during the relevant period, we will be unable to validate your claim.  Notices detailing any deficiencies in your claim will be mailed at a later date and you will have an opportunity to submit additional supporting documentation at that time.

While the Relevant Period commences on March 2, 2015 and continues through September 1, 2016, please note that you must provide documentation of all of your transactions in MYL through and including November 30, 2016.

12. What if I cannot provide all the supporting documents with my claim form?

It is very important that you provide documentation in support of the holdings and transactions listed on your claim form.  Failure to do so may invalidate your claim.  If you cannot locate these documents within your personal records, contact your broker or other account representative and request copies of the documents you need.

13. Will my information be kept confidential?

Yes. The Distribution Agent will use its best efforts to protect the privacy of the information you provide, and the Distribution Agent will not use the information in your claim form and supporting documents other than for the purpose of processing your claim.  For more information, see our Privacy Policy located on this website.

14. Why does the claim form ask for my phone number and email address?

The Distribution Agent will likely need more information in order to process your claim form.  The claim form asks for your phone number and email address so you can be contacted promptly if additional information is needed.  The Distribution Agent will not voluntarily release this information to any person or entity not involved with the Fair Fund.

15. Why does the claim form ask for my Social Security Number (“SSN”), Tax Identification Number (“EIN”) or Passport ID Number?

The Distribution Agent needs this information to administer your claim during the claim administration process.  These identifying items are necessary for a number of reasons, including enabling the Distribution Agent to ensure payments from the Fair Fund are not directed to prohibited participants listed on the U.S. Treasury’s Office of Foreign Asset Control’s (OFAC) records.

We recognize the importance of keeping your personal information secure, and we do everything under our control to ensure this data is protected.  This personal information will only be used as necessary to administer your claim during the claim administration process.

16. I purchased shares of MYL, but they were held in my broker’s name. Who should complete the claim form?

The beneficial owner of the shares of MYL should complete the claim form.  If you purchased the shares but they were registered in your broker’s name, you are the beneficial owner.

17. I held shares of MYL in more than one account. Should I file a separate claim form for each account?

You should include all of your transactions in MYL during the relevant period in one claim form, even if they were purchased or held using different brokerages or representatives.  However, if you held shares of MYL in accounts that were different account types or held under different legal capacities (e.g., an individual account and a partnership account), you should complete a separate claim form for each.

18. If I was a co-owner of MYL, do we both need to sign the claim form?

Yes, all owners must sign. However, if your co-owner is deceased, please read the next question below.

19. What should I do if the investor has died? How should the claim form be completed?

If the beneficial owner of the shares of MYL has died, and would have otherwise met the eligibility requirements of the Mylan Fair Fund, the estate or the legal heirs may be eligible for a distribution.  The executor or administrator of the estate should sign and submit the claim form denoting his or her title (for example, “Executor of the Estate of John Doe”) on the signature page.

If no estate was opened, or if the estate is now closed, all the legal heirs of the investor should sign their names on the claim form, and add the word “Heir”.  In either circumstance, you must attach copies (please do not send originals) of any legal documentation providing evidence you are the executor or Distribution Agent of the estate, or the legal heir of the deceased.

If you had a co-owner of the shares of MYL who has died, you should sign the claim form yourself, and send copies of documents that show:

 a. The co-owner has died (for example, a copy of the death certificate); and
b. You are legally entitled to the co-owner’s interest in the shares of MYL.
20. I may be eligible for compensation from the Mylan Fair Fund if I purchased Mylan common stock on a U.S. exchange during the period from March 2, 2015 through September 1, 2016. Why does the Claim Form ask me to list purchases and sales through and including November 30, 2016?

In order to accurately determine losses for each claim in accordance with the requirements of this case, we must consider all of an investor’s expenditures and sale proceeds relating to the purchase and sale of MYL during the period from March 2, 2015 through and including November 30, 2016.  While an investor may only be eligible for a recovery from the Mylan Fair Fund if he or she purchased shares of MYL during the period from March 2, 2015 through September 1, 2016, the Plan governing this case requires that all sales until November 30, 2016 be considered in determining eligible losses.

For more specific details regarding the ELA calculation, please see the Plan of Allocation beginning on page 12 of the Distribution Plan.

After Your Claim Form Is Submitted

21. Will I be notified whether my claim was received by the Distribution Agent?

If you submit your claim using the on-line claim filing option, you will receive an electronic confirmation and corresponding claim ID immediately.

If you mail a claim form directly to the Distribution Agent, you will not receive confirmation of receipt from the Distribution Agent.  We would encourage you to either use the online claim filing option, or to utilize a mailing option or courier service that will provide you with proof of delivery and receipt of the claim form by the Distribution Agent.  The burden to prove receipt of the claim by the Distribution Agent will be upon the potential claimant.

22. Will I be notified whether my claim is accepted, rejected or deficient?

Yes.  A determination notice will be mailed to all claimants that filed a claim form.  The determination notice will provide each claimant with the status of their claim: approved, deficient or ineligible.  If your claim is deficient, we will provide an explanation of the deficiency and an instruction regarding what is required to cure the deficiency.  If your claim is determined to be ineligible, the determination notice will provide the reason for such denial.  All information submitted in response to a determination notice, either attempting to cure a deficient claim or requesting reconsideration of a rejected claim, must be postmarked no more than 45 days after the date of your determination notice.

23. How much will I be paid if I am eligible?

Until all claims have been fully processed, it is not possible to determine the amount of any individual payment because the amount will depend on a variety of factors; including, the number of eligible claims processed, the total dollar amount of the eligible claims, and the eligible loss amount of your MYL transactions.

If you are determined to be eligible, the amount of your recovery will be based on the plan of allocation loss methodology that was approved by the Court.  The plan of allocation analyzes the reaction of the price of MYL to the misstatements and omissions alleged in the SEC’s Complaint in order to assess the inflation of the price of MYL as a result of the misstatements and omissions.

Your eligible loss will be calculated in accordance with the plan of allocation.  Please note that your eligible losses will be used to determine the amount of your distribution payment from the Fair Fund; however, if the aggregate losses of all claimants exceeds the value of the Fair Fund, the Fair Fund will be distributed to eligible claimants proportionately based upon the ratio of the eligible losses of each claimant to the aggregate eligible losses of all eligible claimants.

You can read a more detailed explanation of the plan of allocation and how distribution payments are calculated, including examples showing the application of the methodology, in the Distribution Plan which is available on this website.

24. Will I have to pay taxes on my payment?

We cannot provide tax or other legal advice on this matter.  It is your responsibility to determine and pay any federal, state or other taxes you may owe on recoveries you receive from the Fair Fund.  Therefore, we recommend that you consult your tax advisor.

25. What should I do if I move after I submit my claim form?

If you move after you file your claim form, please be sure to provide your new address to ensure that we are able to contact you in the event you are eligible to receive a distribution payment.  You can update your address by calling (800) 678-0888, sending an email to info@mylanfairfund.com, or writing to:

MYLAN Fair Fund
P.O. Box 6709
Syracuse, NY 13217-6709

Effect of Submitting a Claim

26. Am I giving up any legal rights by filing a claim form?

No. By submitting a claim form, you are not forfeiting any rights or claims you may have against Mylan, its past and present directors, officers, advisors or agents.

27. Is this case a class action?

No. This Fair Fund settlement is the result of an enforcement action brought by the U.S. Securities and Exchange Commission.

Institutional Filers

28. I am an institutional filer; may I file my claim electronically?

Yes. The Distribution Agent has established a procedure to enable institutional filers to submit claims electronically. The electronic filing template is available here.

29. Will the Distribution Agent ship blank claim forms to an institutional filer in bulk so that the institutional filer can mail them directly to clients?

No. The Distribution Agent will not mail bulk quantities of blank claim forms or other materials to an institutional filer. The claim form and all other relevant material can be downloaded directly from the Fair Fund website here, or you may direct your clients to submit their claim using the online claim filing option available here.

Getting More Information

30. I still have some questions. Who can I contact?

If you have additional questions, you may:

  • Call toll-free (800) 678-0888 (Domestic) or (315) 251-6094 (International), Monday through Friday between 8:30am and 5:00pm, Eastern Standard Time;
  • Send an email to us at info@mylanfairfund.com; or
  • Write to:

MYLAN Fair Fund
P.O. Box 6709
Syracuse, NY 13217-6709

Ready to Begin the Claims Process? Start Today.

Have all the information you need? File your claim today online.