Item 7.01
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Regulation FD Disclosure.
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On March 16, 2016, the Court of Chancery of the State of Delaware (the
Court) entered an order, pursuant to a stipulation, dismissing with prejudice as to the named plaintiffs only the action entitled
In re Durata Therapeutics, Inc. Stockholders Litigation
, Consolidated C.A.
No. 10222-VCL,
in which certain stockholders of Durata Therapeutics, Inc. (Durata) had asserted claims of breach of fiduciary duty against the former directors of Durata and aiding and abetting
those breaches of fiduciary against Durata and W.C. Holding, Inc. and Delaware Merger Sub, Inc., two subsidiaries of Allergan plc, in connection with the acquisition of Durata by Allergan, which at the time was known as Actavis plc. The claims had
been asserted on behalf of a purported class of all stockholders of Durata excluding the defendants and their relatives, representatives and affiliates (the Proposed Class), but the Court made no ruling on certification of the Proposed
Class, and any claims of members of the Proposed Class (other than the named plaintiffs) were dismissed without prejudice. The Court set a hearing on May 16, 2016 at 2:00 p.m., in the New Castle County Courthouse, located at 500 North
King Street, Wilmington, DE 19801, for consideration of an anticipated application by plaintiffs in this action and similar actions filed in Illinois state court for an award of attorneys fees and expenses.
On March 31, 2016, plaintiffs and defendants agreed that Allergan or one of its subsidiaries would pay $150,000 to lead plaintiffs counsel in
satisfaction of all plaintiffs claims for attorneys fees and expenses. On April 11, 2016, the Court entered an order, pursuant to a stipulation, taking the May 16, 2016 hearing off the Courts calendar, and no further
proceedings are expected. The Court has not been asked to review, and will not pass judgment on, the agreed payment of plaintiffs attorneys fees and expenses.
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