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AKCA.US
id: 318, Created by Stan Vick Chase, Scout
Akcea Therapeutics Inc
Settled
19 July 2017
Class period Start12 October 2020
Class period End11 October 2022
Claim deadlineAkcea agreed to pay $12.5 million to settle a securities class action lawsuit.
The original complaint alleged that the Company's Director and Ionis as the majority stockholder of Akcea breached their fiduciary duties in connection with the Merger, including by, among other things, not properly accounting for the value of claims brought in the Derivative Litigation when negotiating the $18.15 price to be paid in the Merger.
Akcea agreed to settle with investors to avoid further litigation.
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Lead plaintiff
John Makris, Sean Sego, Omar Wever-Pinzon, Jordan Schlee
Attorney
Labaton Sucharow LLP
Court
Delawere court of Chancery
Judge
Hon.Lori Will
Administrator
A.B. Data Ltd
Court hearing date
11 October 2022
+$12,500,000
Total Settlement Amount