Case Page

 

Case Status:    ONGOING    
On or around 09/23/2016 (Court's order of dismissal)

Filing Date: December 02, 2015

According to the law firm press release, the lawsuit alleges throughout the Class Period, Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) a fewer number of per protocol patients were available for primary endpoint evaluation in the Phase III Study; (2) the data from 72 patients of the Phase III Study was compromised; (3) XBiotech did not adequately sample patients to accommodate data loss; (4) as a result of not properly sampling patients for the Phase III Study, the Phase III Study would have reduced statistical power to demonstrate the proposed outcome; and (5) as a result of the foregoing, Defendants’ statements about its business, operations, and prospects, including statements about the Phase III Study and clinical development of Xilonix, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On February 24, 2016, the Court issued an Order appointing Lead Plaintiff and approving Lead Counsel. Lead Plaintiff filed a consolidated and amended complaint on April 8.

On September 23, 2016, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to file an amended complaint within 20 days.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: XBIT
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.
COURT: W.D. Texas
DOCKET #: 15-CV-01083
JUDGE: Hon. Sam Sparks
DATE FILED: 12/02/2015
CLASS PERIOD START: 04/15/2015
CLASS PERIOD END: 11/23/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Payne Mitchell Law Group, LLP
    2911 Turtle Creek Blvd., Suite 1400, Payne Mitchell Law Group, LLP, TX 75219
    214-252-1888 214-252-1889 ·
  2. The Rosen Law Firm P.A. (New York)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm P.A. (New York), NY 10016
    (212) 686-1060 (212) 202-3827 ·
No Document Title Filing Date
COURT: W.D. Texas
DOCKET #: 15-CV-01083
JUDGE: Hon. Sam Sparks
DATE FILED: 04/08/2016
CLASS PERIOD START: 04/15/2015
CLASS PERIOD END: 11/23/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bronstein, Gewirtz & Grossman, LLC (New York)
    60 East 42nd Street - Suite 4600, Bronstein, Gewirtz & Grossman, LLC (New York), NY 10165
    212.697.6484 212.697.7296 · info@bgandg.com
No Document Title Filing Date