Case Page

 

Case Status:    SETTLED
On or around 09/12/2005 (Date of order of distribution of settlement)

Filing Date: January 29, 1996

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.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CEPH
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. Pennsylvania
DOCKET #: 96-CV-0633
JUDGE: Hon. Clifford Scott Green
DATE FILED: 01/29/1996
CLASS PERIOD START: 06/01/1995
CLASS PERIOD END: 01/19/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  2. Greenfield & Rifkin, LLP
    800 Times Building, Greenfield & Rifkin, LLP, PA 19003
    610.649.3900 610.649.3900 · g&r@whitehatlaw.com
  3. Prongay & Borderud
    881 Alma Real Drive, Suite 211, Prongay & Borderud, CA 90272
    310.573.3600 ·
No Document Title Filing Date
COURT: E.D. Pennsylvania
DOCKET #: 96-CV-0633
JUDGE: Hon. Clifford Scott Green
DATE FILED: 10/18/1996
CLASS PERIOD START: 06/12/1995
CLASS PERIOD END: 06/07/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bader and Bader
    65 Court Street, Bader and Bader, NY 10601
    914.682.0072 ·
  2. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  3. Greenfield & Rifkin, LLP
    800 Times Building, Greenfield & Rifkin, LLP, PA 19003
    610.649.3900 610.649.3900 · g&r@whitehatlaw.com
  4. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
  5. Wolf, Popper, Ross, Wolf & Jones
    845 Third Avenue, Wolf, Popper, Ross, Wolf & Jones, NY 10022-6689
    212-759-4600 ·
No Document Title Filing Date