On or around 11/19/2020 (Settlement preliminarily approval)
Filing Date: December 12, 2019
According to the Complaint, Correvio Pharma Corp. is a specialty pharmaceutical company that engages in developing therapeutics worldwide. The Company’s portfolio of marketed brands comprise, among others, vernakalant IV, or Brinavess, for the rapid conversion of recent onset AF to sinus rhythm.
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, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) the data supporting the Resubmitted NDA for Brinavess did not minimize the significant health and safety issues observed in connection with the drug’s original NDA; (ii) the foregoing substantially diminished the likelihood that the FDA would approve the Resubmitted NDA; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On February 25, 2020, the Court issued an Order appointing Co-Lead Plaintiffs and Counsel. Co-Lead Plaintiffs filed an amended Complaint on May 1. On September 3, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on November 19.
Company & Securities Information
Defendant: Correvio Pharma Corp.
Industry: Biotechnology & Drugs
Ticker Symbol: CORV
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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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
Josh Feierstein, et al. v. Correvio Pharma Corp., et al.