Oasmia Pharmaceutical AB : American Depositary Shares Securities Litigation
On or around 01/13/2021 (Date of last review)
Filing Date: July 29, 2019
According to the Complaint, Oasmia purports to be a pharmaceutical company focused on innovative treatments within human and animal oncology.
The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Oasmia engaged in improper related-party transactions with Alceco International S.A. and Ardenia Investment LTD, which were controlled by one of the Individual Defendants and his former father-in-law; (2) due to those transactions, millions of Swedish kronor were not accounted for in Oasmia's books; (3) transactions concerning Oasmia's patents were also "carried out in a doubtful way;" and (4) as a result of the aforementioned misconduct, Defendants' statements about Oasmia's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
On October 21, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on November 14.
On May 29, 2020, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on January 6, 2021.
Company & Securities Information
Defendant: Oasmia Pharmaceutical AB
Industry: Major Drugs
Ticker Symbol: OASM
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
Mark Mikhlin, et al. v. Oasmia Pharmaceutical AB, et al.