Case Page

 

Case Status:    SETTLED
On or around 09/04/2014 (Date of order of final judgment)

Filing Date: April 23, 2012

According to the complaint filed April 23, 2012, the Company's Board of Directors issued materially false and misleading statements and/or failed to disclose material adverse facts concerning the employment of a certain Individual Defendant, the Company's former Chief Medical Officer and Executive Vice President of Research and Development. Specifically, the complaint alleges that representatives of NeurogesX, including the Individual Defendant himself, failed to disclose and/or actively concealed the fact that the Individual Defendant was seeking other employment. As a result of the aforementioned allegations, NeurogesX's stock traded at artificially high prices.

On September 27, 2011, the Company announced the Individual Defendant's resignation. Upon this announcement, shares of NeurogesX declined almost 40%. By October 3, 2011, the Company had lost over half its market value.

On September 12, 2012, the Court issued an Order appointing lead plaintiff and approving the selection of lead counsel.

On September 21, 2012, the Court issued an Order transferring venue to the Northern District of California. On October 31, 2012, the Plaintiffs filed their amended complaint.

On September 30, 2013, the Court issued an Order granting, with leave to amend, the Defendants' motions to dismiss.

On October 29, 2013, the Lead Plaintiff filed an Amended Complaint.

The parties filed a Stipulation of Settlement on May 16, 2014. This Settlement was preliminarily approved by the Court on June 27. On September 4, the Court granted final approval of the Settlement and ordered this case be dismissed with prejudice. This was accompanied by an Order approving attorneys' fees and expenses.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Healthcare Facilities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: NGSX
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: N.D. California
DOCKET #: 12-CV-03187
JUDGE: Hon. Paul A. Crotty
DATE FILED: 04/23/2012
CLASS PERIOD START: 05/09/2011
CLASS PERIOD END: 09/27/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky, LLP
    30 Broad Street, 15 1h Floor, Levi & Korsinsky, LLP, NY 10004
    212.363.7500 212.363-7171 ·
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 12-CV-05034
JUDGE: Hon. Paul A. Crotty
DATE FILED: 10/29/2013
CLASS PERIOD START: 05/09/2011
CLASS PERIOD END: 09/27/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky LLP (DC)
    1101 30th Street, NW; Suite 115, Levi & Korsinsky LLP (DC), DC 20007
    ·
  2. Punzalan Law, P.C.
    600 Allerton Street, Suite 201, Punzalan Law, P.C.
    650.362.4150 650.362.4151 ·
No Document Title Filing Date