Innocoll Holdings plc is a biotherapeutics pharmaceutical company that uses its proprietary collagen-based technology platform to develop biodegradable and fully resorbable products.

According to the law firm press release, the lawsuit alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Innocoll’s New Drug Application (“NDA”) submission to the FDA in October 2016 for XARACOLL was incomplete; (2) due to the incomplete NDA submission, XARACOLL would not be approved in 2017 as investors were led to believe; and (3) as a result, Defendants’ statements about Innocoll’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

On April 25, 2017, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. All future docketing was ordered to be done in the lead case 17-CV-00341.

Lead Plaintiff filed an amended Complaint on May 25, 2017. On July 17, Defendants filed a Motion to Dismiss the amended Complaint. On September 5, 2018, the Court issued an Order granting Defendants' Motion to Dismiss the amended Complaint. Plaintiffs were given leave to file an amended Complaint.

On November 5, Plaintiffs filed a second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on December 21. On March 25, 2020, the Court issued an Order denying Defendants' Motion to Dismiss. Lead Plaintiff filed a Motion for Class Certification on August 31. On January 14, 2021, the Court mooted the Motion for Class Certification.

Lead Plaintiff filed a Motion for Class Certification on March 1, 2021. On June 28, the Court ordered the Motion for Class Certification deemed moot.

On November 24, 2021, the parties entered into a Stipulation of Settlement. The Court granted preliminary approval of the Settlement on March 10, 2022. On October 28, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.

On November 10, 2022, the Court issued an Order granting Plaintiffs' Motion for Distribution of Settlement funds.