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GWPH.US
id: 629

GW Pharma (GWPH) M&A $7.75M Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.
S.D. California
Court
3:21-cv-01019
Case number
10 Mar 2021
Class period Start
05 May 2021
Class period End
08 Jan 2024
Claim deadline
GW Pharma (GWPH) agreed to pay $7.75 million to Investors to avoid further litigation.

Investors who purchased, sold, or held $GWPH at any time during the period from and including March 10, 2021, through and including May 5, 2021, may be affected by the Settlement of this Litigation.
  • On February 3, 2021, GW entered into a merger agreement where GW ordinary shareholders would receive $16.66 in cash and $Jazz shares based on an exchange ratio calculated from Jazz's share price, while GW American Depositary Shares holders would receive approximately $200 per share in cash and $20 in Jazz stock;
  • However, shareholder complaint alleged that $GWPH disseminated a materially false and misleading Definitive Proxy Statement to persuade GW shareholders to vote in favor of the Merger, containing inaccuracies regarding GW's financial projections, stock value, and the fairness of the Merger Consideration.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Long
Payout per Share
0.25
Filing date
27 May 2021
Lead Plaintiff Deadline
03 August 2021
Plaintiffs
Kurt Ziegler
Attorneys
Kahn Swick & Foti, LLC (New Orleans, LA), Monteverde & Associates PC (Culver City, CA)
Defendants
Geoffrey W. Guy, Justin Gover, Cabot Brown, David Gryska, Catherine Mackey, James Noble, Alicia Secor, Lord William Waldegrave
Judge
Hon. Cynthia Bashant
Administrator
Rust Consulting
Settlement agreement date
2023-03-16
Court hearing date
11 December 2023
Exclusion deadline
20 November 2023
Objection deadline
20 November 2023
Hearing deadline
20 November 2023
Attorney fee
$0.09
Trades matching type
FIFO
+$7,750,000
Total Settlement Amount

GW Pharmaceuticals PLC

GW Pharmaceuticals plc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics from its proprietary cannabinoid product platform in various disease ...

    Ticker
    GWPH.US
    ISIN
    US36197T1034
    CIK
    1351288
    Sector
    Healthcare
    Industry
    Drug Manufacturers - General
    Country
    USA
    Address
    Sovereign House, Cambridge, United Kingdom, CB24 9BZ