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Case Status:    SETTLED
On or around 06/24/2016 (Date of order of final judgment)

Filing Date: February 21, 2014

According to the Complaint, the Medicines Company (“Medco” or the “Company”) is a global pharmaceutical company focused on providing medical solutions for critical care patients in acute and intensive care hospitals worldwide. One of the Company’s most promising prospects in its pipeline was the Cangrelor drug, which is intended to prevent platelet activation and aggregation in patients undergoing Percutaneous Coronary Interventions (“PCI”) such as angioplasties. The Company conducted a series of three CHAMPION trials, including CHAMPION PCI, CHAMPION PLATFORM and CHAMPION PHOENIX, to test the efficacy and safety of the product to decrease thombrotic events, such as blood clots, either during or after PCI. The CHAMPION PHOENIX trial tested
the efficacy of Cangrelor as compared to clopidrogel, a competing drug manufactured by Bristol Myers Squibb and Sanofi, under the trade name Plavix.

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) Cangrelor did not show superiority to clopidogrel; (2) The clinical trials sponsored by Medco were unethically and inappropriately administered, including by delaying administration of clopidogrel and lowering its dosage; and (3) as a result of the foregoing, Medco’s public statements were materially false and misleading at all relevant times.

On July 18, 2014, the Court issued an Order appointing lead plaintiff and approving the selection of lead counsel. Lead Plaintiff filed an amended complaint on September 17.

On February 19, 2016, the parties filed a Stipulation of Settlement. This Settlement was preliminarily approved by the Court on February 25. The Court granted final approval of the Settlement and dismissed this case on June 24.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Major Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MDCO
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: D. New Jersey
DOCKET #: 14-CV-01149
JUDGE: Hon. Claire C. Cecchi
DATE FILED: 02/21/2014
CLASS PERIOD START: 02/20/2013
CLASS PERIOD END: 02/12/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Lite DePalma Greenberg, LLC (Newark)
    Two Gateway Center - 12th Floor, Lite DePalma Greenberg, LLC (Newark), NJ 07102-5003
    973.623.3000 ·
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: D. New Jersey
DOCKET #: 14-CV-01149
JUDGE: Hon. Claire C. Cecchi
DATE FILED: 09/17/2014
CLASS PERIOD START: 01/08/2013
CLASS PERIOD END: 02/12/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Lite DePalma Greenberg, LLC (Newark)
    Two Gateway Center - 12th Floor, Lite DePalma Greenberg, LLC (Newark), NJ 07102-5003
    973.623.3000 ·
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date