According to the Complaint, Tesaro is an oncology-focused biopharmaceutical company that identifies, acquires, develops, and commercializes cancer therapeutics and oncology supportive care products in the United States.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. The Complaint alleges that specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) substantial undisclosed health risks, including anaphylaxis and anaphylactic shock, were associated with Tesaro’s intravenous formulation of Varubi; and (ii) as a result of the foregoing, Tesaro’s shares traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.

On May 4, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. This case was voluntarily dismissed by the Lead Plaintiff on October 12. A related case continues under Docket 18-CV-12352.

On January 29, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on April 1. Defendants filed a Motion to Dismiss the amended Complaint on May 16. On November 13, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff filed a Motion to amend the Complaint on January 10, 2020. On March 3, the Court issued an Order denying Plaintiff's Motion to amend and dismissed the case with prejudice.