On or around 06/24/2019 (Other)
Filing Date: November 19, 2015
According to the law firm press release, the complaint alleges that throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) the New Drug Application (“NDA”) that Clovis submitted to the FDA for rociletinib contained immature data sets based on both unconfirmed response rates and confirmed response rates; (2) Clovis’ Breakthrough Therapy designation submission contained immature data sets based primarily on unconfirmed responses; (3) Clovis presented interim data publicly and at medical meetings that included a data set based primarily on unconfirmed responses; (4) as the efficacy data matured, the number of patients with an unconfirmed response who converted to a confirmed response was lower than expected; and (5) as a result of the foregoing, Clovis’ NDA was likely to be delayed and/or rejected by the FDA.
On February 18, 2016, the Court appointed Lead Plaintiff and Counsel. A consolidated complaint was filed on May 6.
An amended complaint was filed on February 22, 2017.
On June 18, 2017, the parties entered into a Stipulation of Settlement. Preliminary approval was granted on July 14. Final approval was granted on October 26.
On March 8, 2018, the Court issued an Order approving the plan of allocation of the net Settlement fund. The Court issued an Order approving the distribution plan on June 24, 2019.
Company & Securities Information
Defendant: Clovis Oncology, Inc.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: CLVS
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
Sonny P. Medina, et al. v. Clovis Oncology, Inc., et al.