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Case Status:    ONGOING    
On or around 09/30/2019 (Ongoing date of last review)

Filing Date: January 28, 2019

According to the Complaint, Lexicon is a biopharmaceutical company that focuses on the development and commercialization of pharmaceutical products for the treatment of human diseases.

“Sotagliflozin” is the scientific name of one of Lexicon’s orally-delivered small molecule drug candidates under development. Sotagliflozin is in Phase 3 clinical trials for the treatment of type 1 and type 2 diabetes.

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 data from Lexicon’s Phase 3 clinical trials assessing the safety and efficacy of Sotagliflozin in treating type 1 diabetes were not as positive as Lexicon represented; (ii) the health risks posed by Sotagliflozin were severe enough to threaten its FDA approval prospects; and (iii) as a result, Lexicon’s public statements were materially false and misleading at all relevant times.

On May 31, 2019, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on July 30.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: LXRX
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: S.D. Texas
DOCKET #: 19-CV-00301
JUDGE: Hon. Ewing Werlein, Jr.
DATE FILED: 01/28/2019
CLASS PERIOD START: 03/11/2016
CLASS PERIOD END: 01/17/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
  2. The Briscoe Law Firm, PLLC
No Document Title Filing Date
COURT: S.D. Texas
DOCKET #: 19-CV-00301
JUDGE: Hon. Ewing Werlein, Jr.
DATE FILED: 07/30/2019
CLASS PERIOD START: 03/11/2016
CLASS PERIOD END: 07/29/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
    600 Third Avenue, 20th Floor, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
  2. The Briscoe Law Firm, PLLC
    The Preston Commons, 8117 Preston Road, Suite 300, The Briscoe Law Firm, PLLC, TX 75255
    214.706.9314 214.706.9315 ·
No Document Title Filing Date
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