InterMune, Inc. - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

InterMune, Inc. Conclusion: According to the Final Judgment and Order of Dismissal with Prejudice, entered on August 29, 2005, from U.S. District Judge Honorable Susan Illston of the U.S. District Court for the Northern District of California, the case is settled and the action is dismissed with prejudice.

As reported by the Company’s Form 10-Q for the quarterly period ended June 30, 2005, on May 6, 2005 the parties entered into a Stipulation of Settlement of the litigation pursuant to which the plaintiff class would receive $10.4 million in exchange for a complete release of claims set forth in the complaint that arose during the period August 8, 2002 to June 11, 2003. On June 27, 2005, the court granted preliminary approval of the Stipulation of Settlement, ordered that notice be given to the affected shareholders, and set a date of August 26, 2005 for a hearing on final approval. The Stipulation of Settlement is subject to a number of conditions, including but not limited to, court approval. On June 24, 2005, the court granted preliminary approval to the settlement, ordered notice to be provided to class members and set a hearing for August 26, 2005 to consider final approval. The settlement will be funded in large part by the Company’s insurance carrier.

Earlier, according to the same SEC filing, four purported securities class actions were filed in the same court, each making identical or similar allegations against the Company, its former chief executive officer and former chief financial officer. On November 6, 2003, the various complaints were consolidated into one case by order of the court, and on November 26, 2003, a lead plaintiff, Lance A. Johnson, was appointed. A consolidated complaint titled In re InterMune Securities Litigation, No. C 03-2954 SI, was filed on January 30, 2004. The consolidated amended complaint named the Company, and its former chief executive officer and its former chief financial officer, as defendants and alleges that the defendants made certain false and misleading statements in violation of the federal securities laws, specifically Sections 10(b) and 20(a) of the Exchange Act, and Rule 10b-5. The lead plaintiff sought unspecified damages on behalf of a purported class of purchasers of the Company’s common stock during the period from January 7, 2003 through June 11, 2003. The Company and the other defendants filed a motion to dismiss the complaint on April 2, 2004, which was granted in part and denied in part. Plaintiffs filed a second amended complaint on August 23, 2004, and the defendant filed in a motion to dismiss the second amended complaint on October 7, 2004.

The original Complaint charges that Defendants violated Section 10(b) and 20(a) of the Securities Exchange Act of 1934 by making false and misleading statements about one of the its leading products, Actimmune. Specifically, the complaint alleges that defendants were aware that demand for Actimmune was declining because: (1) the most recent clinical study showed that Actimmune was not effective in the treatment of certain pulmonary diseases, (2) Actimmune inventory levels were increasing, and (3) doctor demand was falling due, in part, to the Company's decision to curtail physician education, the lifeblood of InterMune's off-label sales of Actimmune. However, despite this knowledge, the Company falsely stated during the class period that it was on course to meet projected revenue figures, which had not been previously reduced to reflect lowered demand for the drug. The complaint further alleges that on or around June 11, 2003, the Company announced that it was cutting its 2003 revenue guidance figures and slashing projected earnings from Actimmune. The Company also announced it had overstated the number of patients using Actimmune and that, contrary to its earlier representations, demand for Actimmune from physicians was flat. These disclosures sent the Company's stock price plummeting to $16.74, a 33% one-day fall.

INDUSTRY CLASSIFICATION:
SIC Code: 2834
Sector: Healthcare
Industry: Biotechnology & Drugs

COMPANY/ISSUER NAME:	InterMune, Inc.
COMPANY/ISSUER TICKER:	ITMN
COMPANY WEBSITE:	http://www.intermune.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Johnson, et al. v. InterMune, Inc., et al.

COURT: N.D. California	DOCKET NUMBER: 03-CV-2954
JUDGE NAME: Hon. Susan Illston
DATE FILED: 06/25/2003	SOURCE: Business Wires
CLASS PERIOD START: 01/06/2003	CLASS PERIOD END: 06/11/2003
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Cauley Geller Bowman Coates & Rudman LLP (Little Rock, AR) P.O. Box 25438, Little Rock, AR, 72221-5438 (voice) 501.312.8500, (fax) 501.312.8505, Glancy and Binkow 1801 Avenue of the Stars, suite 311, Los Angeles, CA, 90067 (voice) 310-201-9150, (fax) , info@glancylaw.com Goodkind Labaton Rudoff & Sucharow LLP 100 Park Avenue, New York, NY, 10017 (voice) 212.907.0700, (fax) 212.818.0477, info@glrslaw.com Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA) 100 Pine Street - Suite 2600, San Francisco, CA, 94111 (voice) 415.288.4545, (fax) 415.288.4534, Murray, Frank & Sailer LLP (Milwaukee) 3181 South 27th Street, Milwaukee, WI, 53215 (voice) 866.264.3995, (fax) 414.482.8001, info@murrayfrank.com Wechsler Harwood LLP 488 Madison Avenue 8th Floor, New York, NY, 10022 (voice) 212.935.7400, (fax) , info@whhf.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 _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 7

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint For Violation Of The Securities Laws
Type: Complaint		Date on the document: 06/25/2003
Declaration Of Darren J. Check – Exhibit A
Type: Other		Date on the document: 08/25/2003
Declaration Of Darren J. Check In Support Of Motion To Appoint The Herthel Family As Lead Plaintiffs Pursuant To Section 21d(A)(3)(B) Of The Securities Exchange Act Of 1934
Type: Declaration		Date on the document: 08/25/2003
Declaration Of Kimberly C. Epstein In Support Of The Fraschilla Group's Notice Of Motion And Motion For Consolidation Of Related Cases And Preservation Of Documents
Type: Declaration		Date on the document: 08/25/2003
Declaration Of Luke O. Brooks In Support Of The Fraschilla Group's Motion For Appointment As Lead Plaintiff And Approval Of Selection Of Lead Counsel
Type: Declaration		Date on the document: 08/25/2003
Notice Of Motion And Motion To Appoint The Herthel Family As Lead Plaintiffs And For Appointment Of Lead Counsel; Memorandum Of Point And Authorities In Support Thereof
Type: Notice		Date on the document: 08/25/2003
Notice Of Motion And Motion To Appoint The Herthel Family As Lead Plaintiffs And For Appointment Of Lead Counsel; Memorandum Of Points And Authorities
Type: Notice		Date on the document: 08/25/2003
Plaintiffs The Herthel Family’s Notice Of Motion And Motion To Consolidate All Related Actions For All Purposes; Memorandum Of Points And Authorities
Type: Notice		Date on the document: 08/25/2003
Proof Of Service
Type: Summary Judgment		Date on the document: 08/25/2003
[Proposed] Order Appointing The Herthel Family As Lead Plaintiff And Appointing Lead Counsel
Type: Other		Date on the document: 08/25/2003
[Proposed] Order Granting Plaintiffs The Herthel Family’s Motion To Consolidate All Related Actions For All Purposes
Type: Other		Date on the document: 08/25/2003
The Fraschilla Group's Notice Of Motion And Motion For Appointment As Lead Plaintiff And Approval Of Selection Of Lead Counsel; Memorandum Of Points And Authorities In Support Thereof
Type: Motion		Date on the document: 08/25/2003
The Fraschilla Group's Notice Of Motion And Motion For Consolidation Of Related Cases And Preservation Of Documents; Memorandum Of Points And Authorities In Support Thereof
Type: Motion		Date on the document: 08/25/2003
Notice Of Withdrawal Of The Fraschilla Group's Motion For Appointment As Lead Plaintiff And Approval Of Selection Of Lead Counsel
Type: Notice		Date on the document: 10/02/2003
Order Granting Lance A. Johnson’s Motion For Appointment As Lead Plaintiff And For Approval Of Selection Of Lead Counsel
Type: Order		Date on the document: 12/01/2003

REFERENCE COMPLAINT

In re InterMune, Inc. Securities Litigation

COURT: N.D. California	DOCKET NUMBER: 03-CV-2954
JUDGE NAME: Hon. Susan Illston
DATE FILED: 08/23/2004	SOURCE: Business Wires
CLASS PERIOD START: 01/07/2003	CLASS PERIOD END: 06/11/2003
TYPE OF COMPLAINT: Second Amended and Consolidated
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Glancy and Binkow 1801 Avenue of the Stars, suite 311, Los Angeles, CA, 90067 (voice) 310-201-9150, (fax) , info@glancylaw.com Goodkind Labaton Rudoff & Sucharow LLP 100 Park Avenue, New York, NY, 10017 (voice) 212.907.0700, (fax) 212.818.0477, info@glrslaw.com Roy Jacobs & Associates (New York) 350 Fifth Avenue Suite 3000 , New York, NY, 10118 (voice) , (fax) , classattorney@pipeline.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 3

DOCUMENTS FOR THE REFERENCE COMPLAINT
First Amended And Consolidated Class Action Complaint For Violations Of Federal Securities Laws
Type: Complaint		Date on the document: 01/30/2004
Declaration Of Shahram Seyedin-Noor In Support Of Defendants’ Request For Judicial Notice
Type: Declaration		Date on the document: 04/02/2004
Defendants’ Notice Of Motion And Motion To Dismiss First Amended Consolidated Complaint; Memorandum Of Points And Authorities
Type: Notice		Date on the document: 04/02/2004
Defendants’ Request For Judicial Notice In Support Of Their Motion To Dismiss First Amended And Consolidated Class Action Complaint
Type: Other		Date on the document: 04/02/2004
Notice Regarding Exhibit Attachment – Exhibit B
Type: Notice		Date on the document: 04/02/2004
Notice Regarding Exhibit Attachment – Exhibit C
Type: Notice		Date on the document: 04/02/2004
Notice Regarding Exhibit Attachment – Exhibit A
Type: Notice		Date on the document: 04/02/2004
Proof Of Service
Type: Other		Date on the document: 04/02/2004
[Proposed] Order Granting Defendants’ Motion To Dismiss First Amended And Consolidated Class Action Complaint And Granting Defendants’ Request For Judicial Notice
Type: Order		Date on the document: 04/02/2004
Defendants' Reply Memorandum In Support Of Motion To Dismiss
Type: Brief		Date on the document: 07/14/2004
Second Amended And Consolidated Class Action Complaint For Violations Of Federal Securities Laws
Type: Complaint		Date on the document: 08/23/2004
Defendants' Notice of Motion and Motion to Dismiss
Type: Notice		Date on the document: 01/15/2005
[Proposed] Order Granting Defendants' Motion to Dismiss
Type: Order		Date on the document: 01/15/2005
Stipulation of Settlement
Type: Settlement		Date on the document: 05/06/2005
Notice Of Pendency And Proposed Settlement Of Class Action
Type: Notice		Date on the document: 06/24/2005
Proof of Claim and Release
Type: Other		Date on the document: 06/24/2005
Order Preliminarily Approving Settlement and Providing for Notice
Type: Order		Date on the document: 06/27/2005
[Proposed] Order Awarding Attorneys' Fees And Reimbursement Of Expenses
Type: Order Approving AF&E		Date on the document: 08/26/2005
Final Judgment and Order of Dismissal with Prejudice
Type: Order		Date on the document: 08/29/2005
Notice of Change of Firm Address
Type: Notice		Date on the document: 09/19/2005
U.S. District Court Civil Docket
Type: Docket		Date on the document: 09/29/2005
Affidavit Of Thomas R. Glenn Re: (A) Processing Proof Of Claim And Release Forms; And (B) Calculation Of Recognized Losses
Type: Other		Date on the document: 11/07/2006
Declaration Of Ira A. Schochet In Support Of Motion For An Order Authorizing The Disbursement Of The Net Settlement Fund
Type: Declaration		Date on the document: 11/07/2006
Memorandum Of Points And Authorities In Support Of Motion For And Order Authorizing (1) Payment Of Untimely But Otherwise Authorized Claims, (2) Payment Of The Claims Administrator's Final Fees And Expenses From The Net Settlement Fund And (3) Disbursement Of The Net Settlement Fund
Type: Memorandum		Date on the document: 11/07/2006
Motion For An Order Authorizing The Disbursement Of The Net Settlement Fund; Memorandum Of Points And Authorities In Support Thereof
Type: Motion		Date on the document: 11/07/2006
Proof of Service
Type: Other		Date on the document: 11/07/2006
[Proposed] Order Authorizing The Disbursement Of The Net Settlement Fund
Type: Order		Date on the document: 11/07/2006
Notice
Type: Notice		Date on the document: 11/13/2006
Civil Pretrial Minutes
Type: Other		Date on the document: 01/19/2007
[Proposed] Order Authorizing The Disbursement Of The Net Settlement Fund
Type: Order		Date on the document: 01/19/2007

OTHER DOCUMENTS
Class Action Complaint For Violation Of The Securities Laws
Case Name and/or Number: Lombardi, et al. v. InterMune, Inc., et al.
Type: Complaint		Date on the document: 07/01/2003
Certification By Lawyers Seeking To Serve As Class Counsel [Local Rule 3-7(D)]
Case Name and/or Number: Mahoney, Jr., et al. v. InterMune, Inc., et al.
Type: Other		Date on the document: 07/14/2003
Certification Of Interested Entities Or Persons
Case Name and/or Number: Mahoney, Jr., et al. v. InterMune, Inc., et al.
Type: Other		Date on the document: 07/14/2003
Complaint For Violation Of The Federal Securities Laws
Case Name and/or Number: Mahoney, Jr., et al. v. InterMune, Inc., et al.
Type: Complaint		Date on the document: 07/14/2003

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