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OPKO Health, Inc.

Case Summary

OPKO Health, Inc. Securities Litigation

Case Summary

Case Status:    SETTLED
On or around 09/08/2020 (Date of last review)

Filing Date: September 12, 2018

Plaintiff's law firm issued a press release on September 12, 2018, announcing the filing of the lawsuit. According to the press release, the Complaint alleges that the Defendants made false and/or misleading statements and/or failed to disclose that: (1) OPKO and its Chairman and Chief Executive Officer were engaged in a pump-and-dump scheme with several other individuals and companies in their investments in several penny stocks; (2) this illicit scheme would result in governmental scrutiny including from the SEC; and (3) as a result, Defendants’ statements about OPKO’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On February 4, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. On February 5, the Court issued an Order transferring this case to the Southern District of Florida. On May 3, Lead Plaintiff filed a consolidated Complaint. On May 8, the Court issued an Order consolidating cases under Docket 18-CV-23786.

The parties notified the Court that they had reached a Settlement in principle on May 29, 2020. On June 26, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on September 4.

Company & Securities Information

Defendant: OPKO Health, Inc.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: OPKO
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

Jason Kerznowski, et al. v. OPKO Health, Inc., et al.

COURT: D. New Jersey
DOCKET #: 18-CV-13834
JUDGE: Hon. Stanley R. Chesler
DATE FILED: 09/12/2018
CLASS PERIOD START: 09/26/2013
CLASS PERIOD END: 09/07/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm (South Orange)
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violation of the Federal Securities Laws 09/12/2018
2 U.S. District Court Civil Docket 02/04/2019
3 Order Appointing the Amitim Funds as Lead Plaintiff and Approving their Selection of Lead and Liaison Counsel 02/04/2019

Reference Complaint

In re OPKO Health, Inc. Securities Litigation

COURT: S.D. Florida
DOCKET #: 18-CV-23786
JUDGE: Hon. Stanley R. Chesler
DATE FILED: 05/03/2019
CLASS PERIOD START: 09/26/2013
CLASS PERIOD END: 09/07/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (New New York)
  2. Saxena White PA (Boca Raton)
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Order Transferring Action to the United States District Court for the Southern District of Florida 02/06/2019
2 Consolidated Class Action Complaint 05/03/2019
3 Order Consolidating Related Cases 05/08/2019
4 Order on Motion for Consolidation of Related Actions 05/14/2019
5 Order on Notice of Settlement and Denying All Pending Motions as Moot 05/29/2020
6 Stipulation and Agreement of Settlement 06/29/2020
7 Order Preliminarily Approving Settlement and Authorizing Dissemination of Notice of Settlement 09/04/2020
8 U.S. District Court Civil Docket 09/08/2020

Related District Court Filings

No Document Title Filing Date
1 Complaint for Violation of Federal Securities Laws 09/14/2018
2 U.S. District Court Civil Docket 09/17/2018
3 U.S. District Court Civil Docket 02/07/2019
 
 

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