Stemline Therapeutics, Inc. is a biopharmaceutical company focused on ways to eradicate cancer stem cells and tumors.

According to the law firm press release, according to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) a cancer patient in a Stemline clinical trial tied to SL-401 died from a severe side effect on January 18, 2017; and (2) as a result, Defendants’ statements about its business, operations, and prospects 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.

An amended Complaint was filed on June 26, 2017. Defendants filed a Motion to Dismiss the amended Complaint on August 25, 2017. On March 15, 2018, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint. On April 11, Lead Plaintiffs filed a Notice appealing the Court's decision. On July 13, Lead Plaintiffs withdrew their appeal.

The parties entered into a Stipulation and Agreement of Settlement on March 11, 2019. On June 14, the Court issued an Order granting preliminary approval of the Settlement. On September 23, the Court granted final approval of the Settlement and entered Final Judgment. On January 14, 2020, the Court issued an Order granting distribution of Settlement funds.