Lawsuit Overview
Settlement Overview
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June 16, 2016 - The court approved the settlement and entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissing the action with prejudice.
February 11, 2016 - The court preliminarily approved the settlement.
December 18, 2015 - Parties filed a stipulation of settlement.
March 31, 2015 - The court granted in part and denied in part defendants' motions to dismiss.
April 28, 2014 - The defendants filed motions to dismiss.
February 19, 2014 - The lead plaintiff filed a consolidated complaint on behalf of investors who purchased BioScrip Inc (NASDAQ: BIOS) common shares between November 9, 2012 and November 6, 2013. The lead plaintiff alleges that the defendants violated the Securities Act of 1933 and the Securities Exchange Act of 1934 by issuing false and misleading statements between November 9, 2012 and November 6, 2013.
December 19, 2013 - The lead plaintiff and lead counsel were appointed and all cases were consolidated.
September 30, 2013 - An investor in shares of BioScrip Inc (NASDAQ: BIOS), filed a lawsuit in the U.S. District Court for the Southern District of New York against BioScrip Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between August 8, 2011 and September 20, 2013.
According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of BioScrip Inc (NASDAQ: BIOS) between August 8, 2011 and September 20, 2013, that BioScrip Inc and certain of its officers and directors violated federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
More specifically, the plaintiff alleges that the Defendants made false and/or misleading statements and/or failed to disclose that BioScrip Inc improperly distributed the product Exjade through its specialty pharmacy operations, that BioScrip Inc was in violation of certain federal and state laws and regulations, and that as a result of the foregoing BioScrip Inc's statements were materially false and misleading at all relevant times.
On September 23, 2013, BioScrip Inc disclosed that BioScrip Inc received a civil investigative demand issued by the United States Attorney's Office for the Southern District of New York and a subpoena from the New York State Attorney General's Medicaid Fraud Control Unit, regarding the distribution of the Novartis Pharmaceuticals Corporation product Exjade(R) by the Company's legacy specialty pharmacy division.
Shares of BioScrip Inc (NASDAQ: BIOS) declined from $11.72 per share on September 20, 2013, to $8.31 per share on September 25 2013.
On September 30, 2013, BioScrip Inc (NASDAQ: BIOS) shares closed at $8.78 per share.