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Forest Laboratories Inc (NYSE: FRX) Investor Securities Class Action Lawsuit 03/11/2005

  • If you purchased shares of Forest Laboratories Inc (NYSE: FRX), you might have certain options and should contact 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
Forest Laboratories Inc
Security
NYSE: FRX

Case Name
Forest Laboratories Shareholder Class Action Lawsuit 03/11/2005
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Settlement Notice
forest_laboratories_inc_settlement_notice_12_2008.pdf
Settlement Proof
forest_laboratories_inc_settlement_proof_12_2008.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$65,000,000.00
Deadline to Participate in Settlement

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Summary

March 9, 2011 - The court ordered the authorization of the distribution of the net settlement fund.
October 23, 2009 - The court entered the orders approving the plan of allocation and the motion for attorneys’ fees and expenses.

September 10, 2009 - The court approved the settlement.

December 23, 2008 - The court preliminarily approved the settlement.

December 5, 2008 - Parties filed a stipulation of settlement.

July 21, 2006 - The court granted in part and denied in part the defendants motion to dismiss.

November 7, 2005 - The defendants filed a motion to dismiss.

September 15, 2005 - The lead plaintiffs and lead counsel were appointed and all cases were consolidated.

August 12, 2005 - Plaintiffs filed an amended complaint.

May 10, 2005 - Lead plaintiff motions were filed.

March 11, 2005 - An investor in shares of Forest Laboratories Inc (NYSE: FRX) filed a lawsuit in the U.S. District Court for the Southern District of New York against Forest Laboratories Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between August 15, 2002 and September 1, 2004.

The complaint charges Forest Laboratories Inc and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Forest Laboratories Inc develops, manufactures and sells prescription drug products, as well as non-prescription pharmaceutical products.

According to the complaint, between August 15, 2002 and September 1, 2004, defendants caused Forest Laboratories Inc's stock price to be overstated by concealing deficiencies with its Celexa/Lexapro drugs in treating adolescent depression. When Forest Laboratories Inc ultimately disclosed an agreement with the New York State Attorney General to make available summaries of previously undisclosed studies on the drugs to the public, the price of Forest Laboratories Inc Forest Laboratories Inc stock (NYSE: FRX) dropped to as low as $36 per share.

Date Settled