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Case Status:    SETTLED
On or around 08/20/2015 (Date of order of distribution of settlement)

Filing Date: November 15, 2013

According to the law firm press release, Catalyst operates as a development-stage specialty pharmaceutical company, focused on the development and commercialization of 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.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Major Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CPRX
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: S.D. Florida
DOCKET #: 13-CV-24162
JUDGE: Hon. Joan A. Lenard
DATE FILED: 11/15/2013
CLASS PERIOD START: 10/31/2012
CLASS PERIOD END: 10/18/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Binkow & Goldberg LLP (Los Angeles)
    1801 Ave. of the Stars, Suite 311, Glancy Binkow & Goldberg LLP (Los Angeles), CA 90067
    310.201.915 310. 201-916 · info@glancylaw.com
  2. Saxena White PA (Boca Raton)
    2424 N. Federal Highway, Suite 257, Saxena White PA (Boca Raton), FL 33431
    561.394.3399 561.394.3399 ·
No Document Title Filing Date
COURT: S.D. Florida
DOCKET #: 13-CV-23878
JUDGE: Hon. Joan A. Lenard
DATE FILED: 10/25/2013
CLASS PERIOD START: 10/31/2012
CLASS PERIOD END: 10/18/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm, P.A. P.C. (New York, Former Office)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm, P.A. P.C. (New York, Former Office), NY 10016
    212.686.1060 212.202.3827 · info@rosenlegal.com
No Document Title Filing Date