On or around 10/06/2016 (Date of order of distribution of settlement)
Filing Date: October 24, 2014
According to the law firm press release, the lawsuit claims that iBio issued materially false and misleading statements to investors by wrongfully suggesting that iBio’s Launch platform patents and related proprietary technology would be licensed by the makers of the experimental Ebola drug, ZMapp. The lawsuit claims that when the true facts were revealed, the price of iBio’s stock dropped damaging investors.
On December 16, 2015, the parties entered into a Stipulation of Settlement. This Settlement was preliminarily approved by the Court on December 22. Final approval was granted on April 21.
Company & Securities Information
Defendant: iBio Inc.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: IBIO
Company Market: New York SE
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.