1/30/2014 -- 05/26/2017
Class definition: All persons or entities who purchased or otherwise acquired the publicly traded common stock of Alexion Pharmaceuticals from January 30, 2014 to May 26, 2017, inclusive.
District of Connecticut, 3:16-cv-2127
Alexion Pharmaceuticals has settled a securities class action over allegations that it relied on improper sales tactics to market its flagship drug, Soliris. Soliris is an antibody for the treatment of rare blood diseases and disorders.
Plaintiffs alleged in their class action complaint that Alexion’s earnings were inflated by improper sales of Soliris and that the Company’s sales force was “not sufficient to effectively market” the drug, and that, “Alexion was forced to resort to illicit sales tactics to meet earnings targets.” This latter claim allegedly included pressuring or frightening patients to use Soliris. Defendants deny the allegations.
The complaint in this litigation was filed on December 29, 2016. This litigation has been hard fought, and now all parties—judge, defendants, plaintiffs, and class members—are all considerably older, and so is their trade data. The class period begins on January 30, 2014, which is nearly ten years before the claim filing deadline of December 15.
Do you know where that data is? Might it be in an older format than what you now use, perhaps even an obsolete format? Is it with a previous custodian or on material from a previous software vendor? Chicago Clearing Corporation (CCC) can retrieve the data for you and even make it pretty again. We specialize in retrieving old trade data and in normalizing data from disparate systems.
Might some of your clients have moved or closed accounts? CCC can help with that too. Our staff can remove the headaches of both claim filing and distribution allocations. We can hunt down former clients, find new addresses, and do all the grunt work that distracts your team from the real work of investing.
The team at CCC has already begun reviewing data for our clients in this litigation, and for well over a hundred other securities and antitrust class actions throughout the globe. We have the know-how and the diligence to manage complex claims. Give us a call today. We’ll remove the burden of keeping up with class actions and get you back to focusing on the stock market.
Bloomberg Law, September 14, 2023, “Alexion, Investors Reach $125 Million Deal in Soliris Sales Suit”
Case Name: Read More
Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, MDL 1720
Case Name 1: The Kraft Heinz Company
Cornerstone Research has released its yearly securities class action litigation report and found dramatic increases in the number of settlements and in the average settlement pools. (The link to the full report is below.)
Cornerstone focused on federal securities class actions, specifically cases al... Read More
“I could go on and on, but bottom line, the fees being charged are much less than what I was spending in house to file and this is just one less thing I have to spend time trying to figure out how to complete on a consistent basis. Dealing with the CCC staff has been a very positive thing.”
“We were spending countless hours on class action claims before we signed on with CCC in January. Matt Murray and their technical team ensured our data transmission was seamless and secure. We found everyone at CCC to be professional, courteous, and accommodating.”
“Signing with CCC has made a huge difference. Before, it was horrible. We had to print thousands of pieces of paper, invite clients to come in and sit down with us to show them where to find the transactions, how to input them into the Proof of Claim forms. Now it's simple. It’s very nice to be able to tell our client, “You can shred that Proof of Claim form because CCC has it taken care of.”
Registered Investment Advisor
“Your client reporting portal and customer service is the reason we chose Chicago Clearing. I send the data on an annual basis to CCC and they take it from there. My clients are protected (if there is a class action, it is getting filed), the Bank is protected (we are meeting our fiduciary obligation by filing the claims)."