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Horizon Pharma Inc (NASDAQ: HZNP) Investor Securities Class Action Lawsuit 03/08/2016

  • If you purchased shares of Horizon Pharma Inc (NASDAQ: HZNP), you may have certain options. Please contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
Horizon Pharma Inc
Security
NASDAQ: HZNP

Case Name
Horizon Pharma Shareholder Class Action Lawsuit 03/08/2016
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
Deadline To File for Lead
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Summary

June 8, 2018 - The Court of Appeals affirmed the court's decision. The case was dismissed.

February 16, 2018 - A notice of appeal was filed.

January 18, 2018 - The court granted defendants' motion to dismiss.

November 14, 2016 - A motion to dismiss the second amended consolidated complaint was filed.

October 7, 2016 - A second amended consolidated complaint was filed.

July 25, 2016 - An amended consolidated complaint was filed.

March 8, 2016 - An investor in shares of Horizon Pharma Inc (NASDAQ: HZNP) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Horizon Pharma Inc in connection with certain allegedly false and misleading statements made between March 13, 2014 and February 26, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of Horizon Pharma Inc (NASDAQ: HZNP) common shares between March 13, 2014 and February 26, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 13, 2014 and February 26, 2016 defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that Horizon Pharma Inc’s Prescriptions Made Easy (“PME”) program was designed to artificially inflate the prices of minor differentiation standard retail drugs, that sales revenues from drugs sold through Horizon’s PME program were unsustainable at these inflated price levels, that Horizon Pharma Inc’s use of its PME program left the Company subject to increased regulatory risks, that Horizon received a subpoena from the Office of the U.S. Attorney for the Southern District of New York in November 2015, and that as a result of the foregoing, defendants’ statements about Horizon Pharma Inc’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

On February 29, 2016, Horizon Pharma Inc disclosed in its 2015 annual report that the Company received a subpoena in November 2015 from the Office of the U.S. Attorney for the Southern District of New York for documents and information related to the Company's patient assistance programs, which include providing free medicines and copay coupons to help cover out-of-pocket drug costs, and other aspects of Horizon's sales and marketing activities.