Anthera Pharmaceuticals, Inc. Securities Litigation
On or around 07/17/2017 (Notice of voluntarily dismissal)
Filing Date: February 13, 2017
According to the law firm press release, the complaint alleges that, among other allegations, throughout the Class Period, Anthera made materially false and/or misleading statements concerning the potential efficacy and success of its Solution Study and CHABLIS-SC1 clinical trials, as the Company failed to disclose that: (i) patients were not improving in the CHABLIS-SC1 clinical trial; and (ii) there were dosing problems inherent in the Solution Study design that created challenges to obtaining responses.
On November 10, 2016, the Company issued a press release announcing that the CHABLIS-SC1 clinical trial with blisibimod for the treatment of SLE failed to meet its primary endpoint. Following this news, shares of Anthera fell approximately 32% to close at $1.90 on November 10, 2016. Then on December 27, 2016, the Company issued another press release, announcing that the Solution clinical study in cystic fibrosis patients with EPI missed the CFA non-inferiority margin of the primary modified Intent to Treat. Following this news, shares of Anthera fell approximately 63% to close at $0.74 on December 28, 2016.
This case was voluntarily dismissed on July 17, 2017.
Company & Securities Information
Defendant: Anthera Pharmaceuticals, Inc.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: ANTH
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.
First Identified Complaint
Brian Clevlen, et al. v. Anthera Pharmaceuticals, Inc., et al.
COURT: N.D. California
DOCKET #: 17-CV-00715
JUDGE: Hon. Richard Seeborg
DATE FILED: 02/13/2017
CLASS PERIOD START: 02/10/2015
CLASS PERIOD END: 12/27/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Levi & Korsinsky (Stamford)
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of Federal Securities Laws
Order Granting Motion for Appointment of Lead Plaintiff
Order Granting Movant Uresomir Corak's Motion for Appointment of Lead Plaintiff and Approval of Lead Counsel
Notice of Voluntary Dismissal Pursuant to Fed. R. CIV. P.41(a)(1)(A)(i)
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available