|
Search
Search through the thousands of lawsuits, complaints and recalls on our site.
 |
Case ID: 4221 | Stocks | 03/11/2005
A class action has been filed against AstraZeneca PLC (NYSE:AZN), a pharmaceutical company and certain of its officers and directors by stockholders who purchased the company's common stock between April 2nd, 2003 and October 11th, 2004. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock.
According to a press release dated January 27, 2005, a class action lawsuit has been commenced on behalf of purchasers of AstraZeneca PLC publicly-traded securities, including investors who purchased or acquired AstraZeneca securities on foreign markets and/or who purchased AstraZeneca's American Depositary Receipts. The complaint charges AstraZeneca and certain of its officers and directors with violations of the Securities Exchange Act of 1934. AstraZeneca is a pharmaceutical research company specializing in research and development of drugs to treat cardiovascular, gastrointestinal, neuroscience, oncology, respiratory and inflammation and infection disorders. Specifically, the complaint alleges that defendants issued numerous materially false and misleading statements concerning the results of the clinical trials of the Company's investigational oral anticoagulant Exanta, and the status and likelihood of the approval of the New Drug Application for Exanta. These statements caused the Company's stock/ADR prices to rise until September 9, 2004, when staffers at the U.S. Food & Drug Administration ("FDA") posted briefing documents on the FDA's website which raised previously unheard-of problems with Exanta. Then, on October 11, 2004 the Company issued a press release stating, in relevant part, that they received an Action Letter from the FDA for Exanta. The release stated that "the US Food and Drug Administration (FDA) did not grant approval for the investigational oral anticoagulant EXANTA(R) (ximelagatran)." On news of the conclusion reached in the FDA's action letter, the Company's stock price declined to $38 per share, erasing millions of dollars in market capitalization from the Class Period high of $51.20 per share reached on March 9, 2004 on the NYSE, GBP 2,894 per share reached on October 28, 2003 on the London Stock Exchange, and SEK 380.50 per share reached on October 29, 2003 on the Stockholm exchange. The action is also pending in the United States District Court for the District of Delaware, against defendants AstraZeneca and certain of its officers and directors. If you bought AstraZeneca PLC securities between April 2nd, 2003 and October 11th, 2004, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (866) 467-1400 to speak with an attorney. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Stocks Cases of Interest A class action has been filed against Emerson Radio Corporation (AMEX: MSN) and certain of its officers and directors by stockholders who purchased the company's common stock between January 29 and August 12, 2003.
Several class actions have been filed against business intelligence solutions provider Business Objects SA (Nasdaq:BOBJ) and certain of its officers and directors by stockholders who purchased the company's common stock between April 23, 2003, and April 30, 2004. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. A class action has been filed against Bank One Corporation (NYSE: ONE) and certain of its officers and directors by persons who exchanged their First Commerce Corporation (formerly Nasdaq: FCOM) common stock for shares of Banc One Corporation (as it was then known) common stock pursuant to the registration statement and merger proxy/prospectus issued in connection with the June 12, 1998, merger of First Commerce with, and into, Banc One, and who still owned their Bank One stock on August 24, 1999.
Several class actions have been filed against online pharmacy drugstore.com, Inc., (Nasdaq:DSCM) and certain of its officers and directors by stockholders who purchased the company's common stock between January 20, 2004, and June 10, 2004. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. A class action lawsuit has been filed against Prestige Brand Holdings, Inc. (PBH), certain of its officers and directors by stockholders who purchased the company's common stock between February 09, 2005 and July 28, 2005. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. A class action has been filed in the Northern District Court of California against Ipass Inc. (NASDAQ: IPAS), an internet service provider, and certain of its officers and directors by stockholders who purchased the company's common stock between April 22, 2004 and June 30, 2004. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. |
IT'S FREE
|
© 2000 - 2008 Copyright. All rights reserved nola3, llc.
