Cephalon, Inc. - Securities Class Action

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Copyright (c) 2001
Stanford Law School

Cephalon, Inc. Conclusion: On August 30, 1999, the Court approved the proposed order of settlement, which included dismissal of all claims against the defendants. Cephalon agreed to pay the plaintiffs $17,000,000, which was inclusive of attorneys fees and expenses. Of the settlement amount, $7,500,000 was paid by Cephalon's directors' and officers' liability insurance carriers and the remaining $9,500,000 was paid by Cephalon.

According to the complaint Cephalon and certain of its officers were named as defendants in a number of civil actions filed in the U.S. District Court for the Eastern District of Pennsylvania, which were later consolidated. Several of the plaintiffs were designated by the Court, collectively, as the "lead plaintiff" for purposes of the Private Securities Litigation Reform Act of 1995. The consolidated complaint, filed in October 1996 by the lead plaintiffs, extended and expanded the class period to include purchasers of the Company's securities as well as options to purchase or sell those securities during the period between June 12, 1995 and June 7, 1996. Plaintiffs seek to hold defendants liable for stock trading losses that stem from alleged violations of the U.S. securities laws and alleged common law negligent misrepresentation. More specifically, plaintiffs have alleged that statements by Cephalon and the named defendants relating to the results of certain clinical studies of MYOTROPHIN were misleading.

INDUSTRY CLASSIFICATION:
SIC Code: 8731
Sector: Healthcare
Industry: Biotechnology & Drugs

COMPANY/ISSUER NAME:	Cephalon, Inc.
COMPANY/ISSUER TICKER:	CEPH
COMPANY WEBSITE:	http://www.cephalon.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

David Steinberg, et al., v. Cephalon, Inc., et al.

COURT: E.D. Pennsylvania	DOCKET NUMBER: 96-CV-0633
JUDGE NAME: Hon. Clifford Scott Green
DATE FILED: 01/29/1996	SOURCE: Business Wires
CLASS PERIOD START: 06/01/1995	CLASS PERIOD END: 01/19/1996
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Berger & Montague PC 1622 Locust Street, Philadelphia, PA, 19103 (voice) 800.424.6690, (fax) 215.875.4604, investorprotect@bm.net Greenfield & Rifkin, LLP 800 Times Building, Ardmore, PA, 19003 (voice) 610.649.3900, (fax) 610.649.3900, g&r@whitehatlaw.com Prongay & Borderud 881 Alma Real Drive, Suite 211, Pacific Palisades, CA, 90272 (voice) 310.573.3600, (fax) , _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 3

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint
Type: Complaint		Date on the document: 01/29/1996
Memorandum and Order [re discovery motion]
Type: Order		Date on the document: 07/18/1996

REFERENCE COMPLAINT

In Re: Cephalon, Inc. Securities Litigation

COURT: E.D. Pennsylvania	DOCKET NUMBER: 96-CV-0633
JUDGE NAME: Hon. Clifford Scott Green
DATE FILED: 10/18/1996	SOURCE: Business Wires
CLASS PERIOD START: 06/12/1995	CLASS PERIOD END: 06/07/1996
TYPE OF COMPLAINT: Consolidated Complaint
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Berger & Montague PC 1622 Locust Street, Philadelphia, PA, 19103 (voice) 800.424.6690, (fax) 215.875.4604, investorprotect@bm.net Greenfield & Rifkin, LLP 800 Times Building, Ardmore, PA, 19003 (voice) 610.649.3900, (fax) 610.649.3900, g&r@whitehatlaw.com Wolf Haldenstein Adler Freeman & Herz LLP (New York) 270 Madison Avenue, New York, NY, 10016 (voice) 212.545.4600, (fax) 212.686.0114, newyork@whafh.com Wolf, Popper, Ross, Wolf & Jones 845 Third Avenue, New York, NY, 10022-6689 (voice) 212-759-4600, (fax) , _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 4

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Class Action Complaint
Type: Complaint		Date on the document: 10/18/1996
Motion to Dismiss the Consolidated Class Action Complaint and Memorandum of Law in Support of
Type: Other		Date on the document: 12/30/1996
Reply Memorandum of Law in Further Support of Defendants' Motion to Dismiss the Consolidated Class Action Complaint
Type: Other		Date on the document: 04/16/1997
Memorandum and Order [re motion to dismiss]
Type: Order		Date on the document: 08/29/1997
Memorandum-Order [granting plaintiffs' amended motion for class certification]
Type: Order		Date on the document: 08/12/1998
US District Court Civil Docket
Type: Docket		Date on the document: 10/24/2000
U.S. District Court Civil Docket
Type: Docket		Date on the document: 03/04/2005

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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