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Chiasma Inc (NASDAQ:CHMA) Investor Securities Class Action Lawsuit 06/09/2016

  • You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of August 2, 2019 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Chiasma Inc
Security
NASDAQ: CHMA

Case Name
Chiasma Shareholder Class Action Lawsuit 06/09/2016
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of Massachusetts

Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
Chiasma_Notice_03_14_2019.pdf
Settlement Proof
Chiasma_Proof_03_14_2019.pdf
Filed Complaint
Chiasma_Complaint.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$18,750,000.00
Deadline to Participate in Settlement

You must register to view and download the Settlement Notice and Settlement Proof.

Summary

March 14, 2019 - The court preliminarily approved the settlement.

February 27, 2019 - A stipulation of settlement was filed by the parties.

February 16, 2018 - The court denied the defendants' motion to dismiss.

March 14, 2017 - A motion to dismiss the amended complaint was filed.

February 10, 2017 - An amended complaint was filed.

June 9, 2016 (Shareholders Foundation) - An investor in shares of Chiasma Inc (NASDAQ:CHMA) filed a lawsuit in the U.S. District Court for the District of Massachusetts over alleged violations of Federal Securities Laws by Chiasma Inc in connection with certain allegedly false and misleading statements made between July 15, 2015 and April 17, 2016. In July 2015 Chiasma Inc offered more than 6,300,000 shares of its common stock at $16.00 per share in connection with its initial public stock offering (“IPO”).

According to the complaint the plaintiff alleges on behalf of purchasers of Chiasma Inc (NASDAQ:CHMA) common shares between July 15, 2015 and April 17, 2016, that the defendants violated Federal Securities Laws under the Securities Exchange Act of 1934 and the Securities Act of 1933.

More specifically, the plaintiff claims that Defendants made false and/or misleading statements and/or failed to disclose that Chiasma’s Phase 3 clinical trial methodology for Mycapssa was not sufficient to demonstrate efficacy and secure FDA approval, that Chiasma’s supervision of its suppliers was not sufficient to prevent deficiencies that would delay FDA approval of Mycapssa, and that as a result of the foregoing, Chiasma’s public statements were materially false and misleading at all relevant times.

On April 15, 2016, U.S. Food and Drug Administration (“FDA”) reported its decision on Chiasma’s acromegaly candidate, Mycappsa. The FDA issued a complete response letter and said that the new drug application (NDA) for its treatment of a rare ailment related to the pituitary gland was not ready for approval in its present form.

Shares of Chiasma Inc (NASDAQ:CHMA) declined on April 20, 2016, to as low as $3.53 per share.

Chiasma_Complaint.pdf
Date Settled