Processing your request


please wait...

Case Page

 

Case Status:    ONGOING    
On or around 10/07/2019 (Ongoing date of last review)

Filing Date: February 21, 2019

Plaintiff's law firm issued a press release on February 22, 2019, announcing the filing of the law suit. According to the press release, WuXi purports to be an integrated R&D services platform along the entire value chain of drug discovery and development, with one of the broadest integrated service and technology platforms in the life-science industry, from discovery to preclinical development to clinical development. Originally incorporated in China, on March 16, 2007, the Company reincorporated in the Cayman Islands in advance of its initial public offering (“IPO”) of its American Depositary Shares (“ADS”), each representing eight ordinary shares, on the New York Stock Exchange (“NYSE”), in August 2007. Upon its reincorporation in the Cayman Islands, the Company became a holding company for its numerous pharmaceutical, biotechnology, and medical device research and development services companies operating in the United States and China. Among the Company’s subsidiaries were WuXi AppTec, WuXi Biologics, and WuXi NextCODE.

Through WuXi AppTec, the Company provided comprehensive and FDA, OECD, CFDA, and GLP-compliant bioanalysis services to support preclinical and clinical development for small molecule drugs, biologics, vaccines and pharmacodynamic biomarkers. WuXi Biologics was the Company’s biologics services provider that offered comprehensive, integrated and highly customizable services through our teams of scientists, proprietary technology platform and know-how, state-of-the-art laboratories, and cGMP-compliant manufacturing facilities to pharmaceutical and biotechnology companies. WuXi NextCODE is a leading genomic analysis and bioinformatics company with operations in the United States and Iceland, which the Company acquired on January 9, 2015, $65 million.

The Complaint alleges that throughout the Class Period, as a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities, Plaintiff and other Class members suffered significant losses and damages.

On May 28, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. On July 26, Lead Plaintiff voluntarily dismissed three of the Defendants. Lead Plaintiff filed a consolidated amended Complaint on August 5.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: China

SECURITIES INFORMATION:

Ticker Symbol: WX
Company Market: New York SE
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. New York
DOCKET #: 19-CV-01654
JUDGE: Hon. Alison J. Nathan
DATE FILED: 02/21/2019
CLASS PERIOD START: 09/01/2015
CLASS PERIOD END: 12/10/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 19-CV-01654
JUDGE: Hon. Alison J. Nathan
DATE FILED: 08/05/2019
CLASS PERIOD START: 08/14/2015
CLASS PERIOD END: 12/10/2015
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/
No Document Title Filing Date
—Related District Court Filings Data is not available