Lawsuit Overview
Settlement Overview
You must register to view and download the Settlement Notice and Settlement Proof.
September 4, 2014 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys' fees and expenses, and dismissed the action with prejudice.
September 2, 2014 - The court held a final settlement hearing.
June 27, 2014 - The court preliminarily approved the settlement.
March 20, 2014 - The court terminated motions to dismiss second amended complaint and issued order vacating dates and setting compliance date in light of notice of settlement.
December 13, 2013 - Defendants filed motion to dismiss second amended complaint.
October 29, 2013 - The lead plaintiff filed a second amended complaint.
September 30, 2013 - The court granted defendants' motions to dismiss with leave to amend the complaint.
December 7, 2012 - Defendants filed motions to dismiss.
October 31, 2012 - The lead plaintiffs filed an amended complaint in the U.S. District Court for the Northern District of California.
September 21, 2012 - The case were transferred to the U.S. District Court for the Northern District of California.
September 13, 2012 - Lead plaintiffs and lead counsel were appointed.
June 22, 2012 - Lead plaintiff motion was filed.
April 23, 2012 - An investor in shares of NeurogesX Inc (NASDAQ: NGSX) filed a lawsuit in the U.S. District Court for the Southern District of New York against NeurogesX Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between May 9, 2011 and September 27, 2011.
According to the complaint the plaintiff alleges that NeurogesX Inc’s Board of Directors issued materially false and misleading statements and/or failed to disclose material adverse facts concerning the employment of Dr. Jeffrey K. Tobias, NeurogesX Inc's former Chief Medical Officer and Executive Vice President of Research and Development. Specifically, the complaint alleges that representatives of NeurogesX Inc, including Dr. Jeffrey K. Tobias himself, failed to disclose and/or actively concealed the fact that Dr. Jeffrey K. Tobias was seeking other employment and as a result of the aforementioned allegations, NeurogesX Inc's stock traded at artificially high prices.
On September 27, 2011, NeurogesX Inc announced Dr. Jeffrey K. Tobias' resignation.
Shares of NeurogesX Inc (NASDAQ: NGSX) declined from $1.66 on September 21, 2011 to $0.77 on October 7, 2012.
NeurogesX Inc (NASDAQ: NGSX) reported that its Total Revenue rose from $2.01 million in 2009 to $11.50 million in 2011 while its Net Loss increased from $21.87 million in 2009 to $49.55 million in 2011.
Shares of NeurogesX Inc (NASDAQ: NGSX) rose from as low as $1.08 in March 2009 to as high as $9.48 per share in May 2010.
Since then NeurogesX Inc (NASDAQ: NGSX) shares lost substantial in value and closed on April 23, 2012 at $0.463 per share.