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Case Status:    DISMISSED    
On or around 06/24/2020 (Other)

Filing Date: April 07, 2020

According to the Complaint, Neon Therapeutics, Inc. is a biotechnology company that develops novel neoantigen-targeted T cell therapies, dedicated to transforming the treatment of cancer by directing the immune system towards neoantigens.

This action stems from a proposed transaction announced on January 16, 2020 (the “Proposed Transaction”), pursuant to which Neon Therapeutics, Inc. will be acquired by BioNTech SE ("Parent"). On January 15, 2020, Neon’s Board of Directors caused the Company to enter into an agreement and plan of merger with BioNTech. Pursuant to the terms of the Merger Agreement, Neon’s stockholders will receive 0.063 American Depository Shares (“ADS”), with each ADS representing one ordinary share of Parent, for each share of Neon common stock they own.

On April 2, 2020, Defendants filed a proxy statement/prospectus (the “Prospectus”) with the United States Securities and Exchange Commission in connection with the Proposed Transaction, which scheduled a stockholder vote on the Proposed Transaction for May 4, 2020. The Complaint alleges that the Prospectus omits material information with respect to the Proposed Transaction, which renders the Prospectus false and misleading. Specifically, the Complaint alleges the Prospectus fails to disclose: (i) all line items used to calculate (a) EBITDA, (b) EBIT, and (c) Free Cash Flow; and (ii) a reconciliation of all non-GAAP to GAAP metrics.

This case was voluntarily dismissed on May 6, 2020. A related case continues under Docket 20-CV-03033 in the Southern District of New York. The related case was voluntarily dismissed on June 23.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: NTGN
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 #: 20-CV-00482
JUDGE: Hon. Richard G. Andrews
DATE FILED: 04/07/2020
CLASS PERIOD START: 01/16/2020
CLASS PERIOD END: 04/07/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Rigrodsky & Long, P.A. (Wilmington)
  2. RM Law, P.C. (Berwyn)
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 20-CV-03033
JUDGE: Hon. Richard G. Andrews
DATE FILED: 04/15/2020
CLASS PERIOD START: 01/16/2020
CLASS PERIOD END: 04/15/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Faruqi & Faruqi LLP (New York)
No Document Title Filing Date
—Related District Court Filings Data is not available