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Case Status:    ONGOING    
On or around 01/15/2019 (Ongoing date of last review)

Filing Date: January 15, 2019

According to the Complaint, Avenue Therapeutics, Inc. ("Avenue" or the "Company") is a specialty pharmaceutical company that acquires, licenses, develops, and commercializes products primarily for use in the acute/intensive care hospital setting.

On November 13, 2018, Avenue and InvaGen Pharmaceuticals Inc. issued a joint press release announcing they had entered into a Stock Purchase and Merger Agreement dated November 12, 2018 to sell Avenue to InvaGen in a two-stage transaction.

On December 21, 2018, Avenue filed a Definitive Proxy Statement on Schedule 14A (the “Proxy Statement”) with the SEC. The Complaint alleges that the Proxy Statement, which recommends that Avenue stockholders vote in favor of the Proposed Transaction, omits or misrepresents material information concerning, among other things: (i) Avenue’s financial projections, relied upon by the Company’s financial advisor in its financial analyses, which are wholly omitted from the Proxy Statement; (ii) the data and inputs underlying the financial valuation analyses that support the fairness opinion provided by the Company's financial advisor; (iii) the background process leading to the Proposed Transaction; (iv) the financial advisor’s potential conflicts of interest; and (v) potential conflicts of interest faced by Company insiders.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: ATXI
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: D. Delaware
DOCKET #: 19-CV-00085
JUDGE: Hon. Leonard P. Stark
DATE FILED: 01/15/2019
CLASS PERIOD START: 11/13/2018
CLASS PERIOD END: 01/15/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. O'Kelly Ernst & Joyce, LLC
    901 N. Market Street, Suite 1000, O'Kelly Ernst & Joyce, LLC, DE
    ·
  2. WeissLaw LLP
    551 Fifth Avenue, Suite 1600, WeissLaw LLP, NY 10176
    212.682.3025 212.682-3010 · info@wllawny.com
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available