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Case Status:    DISMISSED    
On or around 05/02/2019 (Other)

Filing Date: April 26, 2019

According to the Complaint, Nightstar Therapeutics PLC ("Nightstar" or the "Company") is a leading clinical-stage gene therapy company focused on developing and commercializing novel one-time treatments for patients suffering from rare inherited retinal diseases that would otherwise progress to blindness. Nightstar’s lead product candidate, NSR-REP1, is currently in Phase 3 development for the treatment of patients with choroideremia, a rare, degenerative, genetic retinal disorder that has no treatments currently available and affects approximately one in every 50,000 people.

This action stems from a proposed transaction announced on March 4, 2019, pursuant to which Nightstar will be acquired by affiliates of Biogen Inc. (“Biogen”). On March 4, 2019, Nightstar’s Board of Directors caused the Company to enter into an implementation agreement with Biogen Switzerland Holdings GmbH and Tungsten Bidco
Limited. Pursuant to the terms of the Implementation Agreement, Nightstar’s stockholders will receive $22.50 in cash for each share of Nightstar common stock they hold.

On April 9, 2019, Defendants filed a proxy statement (the “Proxy Statement”) with the United States Securities and Exchange Commission (the “SEC”) in connection with the Proposed Transaction, which scheduled a stockholder vote on the Proposed Transaction for May 8, 2019. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

This case was voluntarily dismissed on May 1, 2019.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: NITE
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-00761
JUDGE: Hon. Maryellen Noreika
DATE FILED: 04/26/2019
CLASS PERIOD START: 03/04/2019
CLASS PERIOD END: 04/26/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Rigrodsky & Long, P.A.
    919 N. Market Street, Suite 980, Rigrodsky & Long, P.A., DE 19803
    302.295.5310 302.295.5310 · info@rigrodskylong.com
  2. RM Law, P.C.
    1055 Westlakes Drive, Suite 3112, RM Law, P.C., PA 19312
    (484) 324-6800 ·
No Document Title Filing Date
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