According to the law firm press release, Catalyst Pharmaceutical Partners, Inc. ("Catalyst" or the Company) operates as a development-stage specialty pharmaceutical company, focused on novel prescription drugs targeting rare neuromuscular and neurological diseases and disorders. One of the Company’s principal products is Firdapse, purportedly in Phase III clinical trials for treatment of Lambert-Eaton Myasthenic Syndrome (LEMS), a rare and sometimes fatal autoimmune disease characterized by muscle weakness.

The Complaint alleges that the Defendants failed to disclose that one of Catalyst’s competitors – a private pharmaceutical company – has been manufacturing a drug biologically equivalent to Firdapse, and providing it to patients with LEMS, free of charge, through a compassionate use program. On October 18, 2013, an article published by The Street stated that Catalyst’s Firdapse was the same drug that its competitor has been manufacturing and providing in the U.S. for at least two decades.

On January 23, 2014, the Plaintiffs filed an Amended Class Action Complaint for Violations of The Federal Securities Laws against the Defendants.

On March 26, 2014, Counts I and II were Dismissed by the Court. Thereby, the Defendants’ Motion to Dismiss was GRANTED IN PART and DENIED IN PART.

On April 4, 2014, the Plaintiffs filed a Second Amended Class Action Complaint for Violations of The Federal Securities Laws against the Defendants.

On September 29, 2014, the Plaintiffs’ Motion for Class Certification was GRANTED IN PART and DENIED IN PART.

On November 21, 2014, the parties entered into a Stipulation of Settlement. This Settlement was preliminarily approved on December 3. On March 16, 2015, the Court granted final approval of the settlement and dismissed this case.