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Case Status:    SETTLED
On or around 09/10/2018 (Date of order of final judgment)

Filing Date: March 03, 2016

According to the law firm press release, the complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company’s NDA for Translarna that it submitted to the FDA was not sufficiently complete to permit a substantive review of the application; (2) that, as such, the application would not be reviewed nor approved by the FDA; (3) that the impending non-approval of the NDA would have a negative material impact on the Company’s operations and prospects; and (4) that, as a result of the foregoing Defendants’ statements about PTC Therapeutics’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On November 14, 2016, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on January 13, 2017. On February 14, Defendants filed a Motion to Dismiss the consolidated Complaint. On August 28, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

On March 2, 2018, the Parties entered into a Stipulation of Settlement. On May 15, the Court issued an Order granting preliminary approval of the settlement. On September 10, the Court granted final approval of the Settlement and entered Final Judgment.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: PTCT
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: D. New Jersey
DOCKET #: 16-CV-01224
JUDGE: Hon. Kevin McNulty
DATE FILED: 03/03/2016
CLASS PERIOD START: 05/06/2014
CLASS PERIOD END: 02/23/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Carella, Byrne, Cecchi, Olstein, Brody & Agnello, P.C.
    5 Becker Farm Road , Carella, Byrne, Cecchi, Olstein, Brody & Agnello, P.C., NJ 07068
    (973) 994-1700 (973) 994-1744 ·
  2. Glancy Prongay & Murray LLP
    1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067
    (310) 201-9150 (310) 432-1495 ·
No Document Title Filing Date
COURT: D. New Jersey
DOCKET #: 16-CV-01224
JUDGE: Hon. Kevin McNulty
DATE FILED: 01/13/2017
CLASS PERIOD START: 11/06/2014
CLASS PERIOD END: 02/23/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Carella, Byrne, Cecchi, Olstein, Brody & Agnello, P.C.
    5 Becker Farm Road , Carella, Byrne, Cecchi, Olstein, Brody & Agnello, P.C., NJ 07068
    (973) 994-1700 (973) 994-1744 ·
  2. Kirby McInerney LLP (New York)
    825 Third Avenue, Kirby McInerney LLP (New York), NY 10022
    212.371.6600 212.371.6600 ·
  3. Labaton Sucharow LLP
    140 Broadway, Labaton Sucharow LLP, NY 10005
    212.907.0700 212.818.0477 · info@labaton.com
  4. Levi & Korsinsky
    235 Main Street, Levi & Korsinsky, NJ 07601
    973-265-1600 ·
No Document Title Filing Date