Welcome to the Alexion Pharmaceuticals Securities Settlement Website
BOSTON RETIREMENT SYSTEM, Individually and on Behalf of All Others Similarly Situated, Plaintiff,
vs.
ALEXION PHARMACEUTICALS, INC., LEONARD BELL, DAVID L. HALLAL, VIKAS SINHA, Defendants.
Civ No. 3:16-cv-02127 (AWT)
United States District Court
District of Connecticut
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PLEASE NOTE: The Settlement Hearing was held on December 20, 2023 at 3:30 P.M. The Court approved the Settlement, the proposed Plan of Allocation, and the application of Co-Class Counsel for attorneys’ fees and expenses. |
This website has been established to provide general information regarding the proposed settlement (“Settlement”) of the class action (the "Action") known as Boston Retirement System, et al. v. Alexion Pharmaceuticals, Inc., et al., Case No. 3:16-cv-02127 (AWT); the Court in charge of the Action is the United States District Court for the District of Connecticut. Capitalized terms used on this website and not otherwise defined shall have the same meanings ascribed to them in the Stipulation and Agreement of Settlement, dated as of September 11, 2023 (“Stipulation”).
Please be advised that your rights may be affected by the proceedings in the Action if you are a member of the Class, which includes the following:
All persons or entities who purchased or otherwise acquired the publicly traded common stock of Alexion Pharmaceuticals, Inc. from January 30, 2014 to May 26, 2017, inclusive (the “Class Period”), and who were allegedly damaged thereby.
In the Action, Erste Asset Management GmbH, f/k/a Erste-Sparinvest Kapitalanlagegesellschaft mbH and Public Employee Retirement System of Idaho ("Class Representatives") alleged that Defendants made materially false and misleading statements and omissions principally connected to Alexion’s sales practices in connection with the marketing of Alexion's flagship drug, Soliris, and that the price of Alexion common stock was artificially inflated as a result of the allegedly false and misleading statements and omissions. Defendants have denied and continue to deny each and every one of the claims alleged by Class Representatives in the Action.
The Court did not finally decide in favor of Class Representatives or Defendants. Instead, both sides agreed to a settlement. Class Representatives and Co-Class Counsel believe that the claims asserted in the Action have merit. They recognize, however, the expense and length of continued proceedings needed to pursue the claims through trial and appeals, as well as the difficulties in establishing liability. In light of the guaranteed cash recovery to the Class, Class Representatives and Co-Class Counsel believe that the proposed Settlement is fair, reasonable, and adequate, and in the best interests of the Class.
Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation. Please read the Notice carefully to fully understand your rights.
Please do not call the Court with questions about the Settlement. All questions should be directed to Co-Class Counsel or the Claims Administrator.
IMPORTANT DATES & DEADLINES
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OBJECTION DEADLINE (Received by) |
November 29, 2023 |
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EXCLUSION DEADLINE (Received by) |
November 29, 2023 |
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CLAIM FILING DEADLINE (Postmarked by) |
December 15, 2023 |
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SETTLEMENT HEARING |
December 20, 2023 at 3:30 P.M. Abraham Ribicoff Federal Building, United States Courthouse, South Courtroom, 450 Main Street, Hartford, Connecticut 06103 |