Final Approval Hearing in $750 Million Namenda Case Settlement Slated for May 27th

In an order entered earlier this month, Chief U.S. District Judge for the Southern District of New York Colleen McMahon stated that she is not inclined to postpone the final fairness hearing that is scheduled for May 27, 2020 in the “pay for delay” and “product hopping” antitrust case known as the In re Namenda Direct Purchaser Antitrust Litigation. Class counsel’s motion for final approval of the proposed settlement is fully briefed. 

The Namenda case resulted in a proposed settlement amounting to $750 million for the direct purchaser class. Judge McMahon gave preliminary approval to the deal in early January.