IsoRay, Inc. is an isotope-based medical company that focuses on developing brachytherapy treatments for difficult-to-treat cancers.

According to the law firm press release, the lawsuit alleges Defendants made false and/or misleading statements regarding IsoRay’s Celsium-131 isotope seeds and mesh for the treatment of non-small cell lung cancers. When the true details entered the market, shares of IsoRay fell $1.10 per share or over 35% to close at $2.02 per share on May 21, 2015, damaging investors.

On July 29, 2015, this case was transferred to the Eastern District of Washington under Docket 15-CV-05046.

The Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel on August 17, 2015. All future docketing was ordered to be done in the lead case 15-CV-05046. Lead Plaintiff filed an amended Complaint on October 16. Defendants filed a Motion to Dismiss the amended Complaint on December 15.

On June 1, 2016, the Court issued an Order denying Defendants' Motion to Dismiss.

On September 23, 2016, the parties entered into a Stipulation of Settlement. The Court granted preliminary approval of the Settlement on October 20. On March 7, 2017, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.

On July 25, 2017, the Court issued an Order approving distribution of the Settlement funds.