Faruqi & Faruqi LLP - newshttp://www.faruqilaw.com/newsFaruqi & Faruqi LLP - newsCourt Grants Final Approval of Settlement in Chelsea Therapeutics International, Ltd. Securities Litigationhttp://www.faruqilaw.com/news/show/id/145 The Honorable Max O. Cogburn, Jr., United States District Judge for the Western District of North Carolina entered final approval of the settlement reached in McIntyre v. Chelsea Therapeutics International, Ltd., et al., No. 3:12-CV-00213-MOC-DCK (W.D.N.C.) for which Faruqi & Faruqi, LLP served as sole Lead Counsel on behalf of the Class.  The Order can be accessed through the link below.

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Wed, 21 Sep 2016 00:00:00Alex Coviello
Faruqi & Faruqi, LLP Obtains Significant Victory On Behalf Of Investors Against ACADIA Pharmaceuticals Inc.http://www.faruqilaw.com/news/show/id/144 On September 19, 2016, United States District Judge Barry Ted Moskowitz denied a motion to dismiss filed by ACADIA Pharmaceuticals Inc. (“ACADIA”), former Chief Executive Officer (“CEO”) Uli Hacksell, current President and CEO Stephen R. Davis, and former Chief Medical Officer and Executive Vice President, Development Roger G. Mills (together “Defendants”).  The Court sustained claims alleging that the Defendants violated the federal securities laws by making materially false and misleading statements regarding the timing and status of ACADIA’s New Drug Application for its lead product candidate, Nuplazid (pimavanserin). 

If you purchased ACADIA common stock and/or call options between November 10, 2014 and March 11, 2015, inclusive, and would like to discuss your legal rights, call Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or send an e-mail to rgonnello@faruqilaw.com.

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Tue, 20 Sep 2016 00:00:00Raul Mondragon
We are proud to announce the appointment of Timothy J. Peter to partner. Mr. Peter will head up the firm's Consumer Protection Litigation Department. http://www.faruqilaw.com/news/show/id/143 Timothy Peter joined Faruqi & Faruqi in 2015. Prior to joining Faruqi & Faruqi, Mr. Peter was an associate at Cohen Placittella & Roth, P.C. where he was involved in such high profile litigation as: In re Vioxx Products Liability Litigation ($8.25 million recovery for the Commonwealth of Pennsylvania) and In re Evergreen Ultra Short Opportunities Fund Securities Litigation ($25 million class action securities settlement in which participating class members will recover over 65% of their losses).

In addition, Mr. Peter played an important role in the resolution of In re Minerva Group LP v. Mod-Pac Corp., et al., in which defendants increased the price of an insider buyout from $8.20 to $9.25 per share, a significant victory for shareholders. Prior to attending law school, Mr. Peter worked for one of largest financial institutions in the world where he gained significant insight into the inner workings of the financial services industry.

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Fri, 19 Aug 2016 00:00:00Alex Coviello
Faruqi & Faruqi, LLP announces appointment as co-lead counsel and preliminary approval of settlement in In re Boulder Brands, Inc. Stockholder Litigationhttp://www.faruqilaw.com/news/show/id/142 Faruqi & Faruqi LLP is pleased to announce its appointment as co-lead counsel and preliminary approval of a settlement in In re Boulder Brands, Inc. Stockholder Litigation, Lead Case No: 2015-CV-01349 (consolidated with Case No. 2015-CV-31474). The settlement involves supplemental disclosures in SEC filed documents in connection with the acquisition of Boulder Brands, Inc. by Pinnacle Foods, Inc. for approximately $975 million, including $265 milion in debt.

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Mon, 13 Jun 2016 00:00:00Raul Mondragon
Faruqi & Faruqi, LLP Announces Preliminary Court Approval of Settlement in McIntyre v. Chelsea Therapeutics International, Ltd., et al.http://www.faruqilaw.com/news/show/id/141 Faruqi & Faruqi LLP is pleased to announce the Court’s preliminary approval of a settlement in MacIntyre v. Chelsea Therapeutics International, Ltd., et al., Case No. 3:12-CV-213-MOC-DCK (W.D.N.C.).  The settlement provides for $5,500,000 in cash to be paid to class members who purchased or otherwise acquired Chelsea common stock between September 20, 2010 and May 21, 2012, both dates inclusive.  A final approval hearing on the settlement will be held on September 19, 2016, at 10:00 a.m., at the United States District Court for the Western District of North Carolina.  Notice will be provided to class members in the upcoming weeks, and information about the settlement will also be posted online at www.ChelseaTherapeuticsSettlement.com.  In the meantime, a copy of the Court’s order preliminarily approving the settlement can be found at the link below.

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Wed, 1 Jun 2016 00:00:00Alex Coviello
Court Appoints Faruqi & Faruqi, LLP Lead Counsel in Securities Class Action Against Xoma Corporation. http://www.faruqilaw.com/news/show/id/140 On May 13, 2016, District Court Judge Haywood S. Gilliam, Jr. of the United States District Court for the Northern District of California appointed Faruqi & Faruqi, LLP to serve as Lead Counsel in Markette v. Xoma Corporation, et al., Case No. 15-cv-03425-HSG.


For further inquiries regarding this matter, please contact Richard Gonnello at rgonnello@faruqilaw.com or (212) 983-9330.

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Fri, 13 May 2016 00:00:00Raul Mondragon
Court Appoints Faruqi & Faruqi, LLP Lead Counsel in Securities Class Action Against Primero Mining Corphttp://www.faruqilaw.com/news/show/id/139
On May 12, 2016, District Court Judge Beverly Reid O’Connell of the United States District Court for the Central District of California appointed Faruqi & Faruqi, LLP to serve as Lead Counsel in Loftus v. Primero Mining Corp., Case No. 16-01034-BRO (RAOx).

For further inquiries regarding this matter, please contact Richard Gonnello at rgonnello@faruqilaw.com or (212) 983-9330.

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Thu, 12 May 2016 00:00:00Alex Coviello
Faruqi & Faruqi again is awarded certification for having met WBENC’s standards as a Women’s Business Enterprise.http://www.faruqilaw.com/news/show/id/138 National Women’s Business Enterprise Council again awards Faruqi & Faruqi certification for having met WBENC’s standards as a Women’s Business Enterprise (WBE).

http://www.wbenc.org

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Tue, 10 May 2016 00:00:00Alex Coviello
Faruqi & Faruqi Obtains Significant Victory in In re Lihua International, Inc. Shareholder Derivative Action On Behalf Of Lihua International, Inc. And Its Shareholders http://www.faruqilaw.com/news/show/id/136 United States District Judge Ronnie Abrams denied, in part, a motion to dismiss filed by Lihua International, Inc., and former and/or current officers and/or directors Robert C. Bruce, Daphne Yan Huang, Siu Ki Lau, Jonathan P. Serbin, Tianbao Wang, and Ming Zhang, March 9, 2016.  The Court sustained counts of breach of fiduciary duties, waste of corporate assets and gross mismanagement.  Judge Abrams commented that "Plaintiffs have adequately pled that Lihua's directors failed to supervise its operations in China." As noted by Chancellor Allen in In re Caremark Int'l, 698 A.2d 959, 967 (Del. Ch. 1996), director liability based on the duty of oversight " is possibly the most difficult theory in corporation law upon which a plaintiff might hope to win a judgment." Judge Abrams ordered the parties to submit a joint letter by March 16, 2016, indicating availability for a pre-trial conference to be held later in March or April.

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Wed, 9 Mar 2016 00:00:00Raul Mondragon
F&F recognized as “Leaders In Law,” Forbes Magazine, February 29, 2016.http://www.faruqilaw.com/news/show/id/134 Forbes Magazine We’re thrilled to appear in Forbes magazine!

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Mon, 29 Feb 2016 00:00:00Alex Coviello