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Case Status:    DISMISSED    
On or around 05/09/2018 (Stipulation and order of dismissal (voluntary dismissal))

Filing Date: January 11, 2018

According to the law firm press release, Aradigm Corporation develops novel pulmonary drug delivery systems. The Company's systems are designed to enhance the delivery and effectiveness of a number of existing and development stage drugs and reduce the need for injectable drug therapy.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the methodology underlying Aradigm’s Linhaliq Phase III clinical trials was not well tailored to yield consistent efficacy findings or to provide data sufficient to account for discordant efficacy findings; (ii) the endpoint of the Phase III trials—namely, delaying the time to first exacerbation on study therapy compared to placebo over approximately one year of observation—was unlikely to demonstrate a clinically meaningful benefit with respect to a patient population that would likely be taking the drug for a longer duration; (iii) accordingly, these studies were unlikely to support FDA approval of the Linhaliq NDA; and (iv) as a result, Aradigm’s public statements were materially false and misleading at all relevant times.

On April 6, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel.

Lead Plaintiff voluntarily dismissed this case on May 9, 2018.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ARDM
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: N.D. California
DOCKET #: 18-CV-00261
JUDGE: Hon. Vince Chhabria
DATE FILED: 01/11/2018
CLASS PERIOD START: 07/27/2017
CLASS PERIOD END: 01/08/2018
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
  2. Pomerantz LLP (Beverly Hills)
    468 North Cameden Drive, Pomerantz LLP (Beverly Hills)
    (818) 532-6499 ·
No Document Title Filing Date