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Dendreon Corporation (NASDAQ: DNDN) Investor Securities Class Action Lawsuit 08/04/2011

  • You must submit the settlement "Proof" form attached below, in order to participate in this settlement. There is a strict deadline of September 7, 2013 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
Dendreon Corporation
Security
NASDAQ: DNDN

Case Name
Dendreon Corporation Shareholder Class Action Lawsuit 08/04/2011
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Western District of Washington

Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
dendreon_corporation_settlement_notice_2013.pdf
Settlement Proof
dendreon_corporation_settlement_proof_2013.pdf
Filed Complaint
dendreon_corporation_original_filing_edited_8_2011.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$40,000,000.00
Deadline to Participate in Settlement

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

Summary

April 26, 2013 - The court preliminarily approved the settlement.

April 24, 2013 - A stipulation of settlement was filed by the parties.

April 27, 2012 - A motion to dismiss the amended consolidated complaint was filed.

February 24, 2012 - An amended consolidated complaint was filed.

August 4, 2011 - An investor in shares of Dendreon Corporation (NASDAQ: DNDN) filed a lawsuit in U.S. District Court for the Western District of Washington against Dendreon Corporation over alleged violations of Federal Securities Laws.

According to the complaint the plaintiff alleges on behalf of purchasers of the securities of Dendreon Corporation (NASDAQ: DNDN) between April 29, 2010 and August 3, 2011, that Dendreon Corporation certain of its officers violated the Securities Exchange Act of 1934 by making a series of materially false and misleading statements related to Dendreon Corporation's business and operations. Dendreon Corporation reported an increase in its annual Total Revenue from 0.74million in 2007 to $48.06million in 2010. However, its Net Loss rose from $99.26million in 2007, respectively $71.64million in 08 to $439.48million in 2010. Shares of Dendreon Corporation (NASDAQ: DNDN) rose from as low as $2.61 in March 09 to as high as $54.06 in April 2010. NASDAQ: DNDN stocks fell from over $41 per share in the beginning in July 2011 to under $12 on Thursday, August 4, after Dendreon Corporation withdrawal of its sales forecasts for its prostate cancer therapy Provenge.

On, August 3, 2011, Dendreon Corporation reported its Second Quarter 2011 Financial Results. Among other things, Dendreon Corporation said that it “is withdrawing its previous guidance of $350-400 million in revenue for 2011 and currently expects modest quarter over quarter revenue growth for the remainder of this year.”

Shares of Dendreon Corporation (NASDAQ: DNDN) fell from a close of $35.84 per share on August 3, 2011 to $11.52 during Thursday’s trading.

dendreon_corporation_original_filing_edited_8_2011.pdf
Date Settled