Clovis Oncology is an American pharmaceutical company which mainly markets products for the treatment of cancer.

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.