Gehrich, et al. v. Howe, et al.
MedImpact Settlement
Case No. 37-2018-00041295-CU-SL-CTL

Welcome to the MedImpact Settlement Website

Important Update:

Please Note: The Settlement Hearing in this case, originally scheduled for December 13, 2019, has been rescheduled to December 20, 2019 at 9:00 A.M. The location is the same. Please check back for any updates.

What is this lawsuit about?

Plaintiffs allege that certain current and former members of MedImpact’s Board of Directors breached their fiduciary duties or aided and abetted others’ breaches of their fiduciary duties. Specifically, Plaintiffs allege that MedImpact’s Board of Directors breached their duties by failing to provide basic financial information to minority shareholders, permitting the controlling shareholder to take liquidity from MedImpact in the form of loans and causing MedImpact to repurchase shares from the minority stockholders at unfair prices. Plaintiffs also assert derivative claims on behalf of MedImpact for corporate waste and breach of fiduciary duty.

Who is included?

The Court has preliminarily certified for purposes of the Settlement a class that consists of, subject to certain exceptions identified below, the following individuals:

All persons who held stock or options of MedImpact as of August 16, 2018.

The Court has also preliminarily certified for purposes of the Settlement two subclasses that consist of, subject to certain exceptions identified below, the following individuals:

Subclass A:  All persons who currently (i.e., as of September 4, 2019) hold MedImpact stock or options.
Subclass B:  All persons who participated in MedImpact’s July 2018 Offer but did not accept the offer of additional payment associated with MedImpact’s November 2018 Offer.
 

Your Legal Rights and Options

OPTION AND DEADLINE
EVENT
Subclass A
Submit a Letter of Transmittal
(by December 13, 2019)
PASSED
If the Settlement is approved and you are a member of Subclass A, you must submit a valid and timely Stock Letter of Transmittal and/or Options Letter of Transmittal to qualify for a payment from the Settlement. When you submit the Stock Letter of Transmittal and/or Options Letter of Transmittal, you have a choice of tendering all or some of your MedImpact shares and options.
 
Subclass B If the Settlement is approved and you are a member of Subclass B, you are not required to do anything to qualify for a payment from the Settlement.
 
Exclude Yourself
(by November 29, 2019)
PASSED
If you excluded yourself, you will receive no payment from the Settlement and will not be bound by the Settlement. If you did not timely and validly request exclusion from the Settlement Class, you will be bound by any judgment entered in the Action pursuant to the Stipulation and Agreement of Settlement.
 
Object
(by November 29, 2019)
PASSED
If you did not exclude yourself, but you wish to object to any part of the Settlement, you had the option to write to the Settlement Administrator about your objections. Submitting an objection does not exclude you from the Settlement.
 
Attend the Settlement Hearing
(on December 20, 2019 at 9:00 a.m.)
If you submitted a timely and valid written objection to the Settlement Administrator, you may (but do not have to) attend the hearing about the Settlement and speak to the Court about your objections.
 
 

For More Information

Visit this website often to get the most up-to-date information.

Mail

MedImpact Settlement
c/o JND Legal Administration
PO Box 91350
Seattle, WA 98111