On or around 10/02/2018 (Date of order of distribution of settlement)
Filing Date: October 07, 2015
According to the law firm press release, the lawsuit charges that Amicus and certain of its officers misrepresented when it would be able to file its New Drug Application with the Food and Drug Administration ("FDA") for its NDA for its oral small molecule pharmacological chaperone migalastat for the treatment of Fabry disease. Defendants publicly stated that, based on information provided by the FDA, the NDA was on track for filing in the fourth quarter of 2015.
On October 2, 2015, Amicus revealed that it would no longer be in a position to submit its NDA in the fourth quarter of 2015. Amicus' stock price plunged on this news, falling by 54% to $6.39 per share.
On May 26, 2016, the Court issued an Order appointing lead plaintiff and approving lead counsel. Lead Plaintiff filed a consolidated amended Complaint on July 11.
On April 14, 2017, the parties entered into a Stipulation of Settlement. Preliminary approval was granted on June 29. Final approval was granted on November 9. On October 2, 2018, the Court issued an Order for Distribution of the Net Settlement fund.
Company & Securities Information
Defendant: Amicus Therapeutics, Inc.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: FOLD
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.
First Identified Complaint
Lifestyle Investments, LLC, et al. v. Amicus Therapeutics, Inc., et al.