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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of April 5, 2021 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.
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Lawsuit Overview
Settlement Overview
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January 12, 2021 - The court preliminarily approved the settlement.
May 29, 2020 - A stipulation and agreement of settlement was entered by the parties.
November 14, 2019 - An amended complaint was filed.
July 29, 2019 - An investor in shares of Oasmia Pharmaceutical AB (publ) (NASDAQ: OASM) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Oasmia Pharmaceutical AB in connection with certain allegedly false and misleading statements made between October 23, 2015 through July 9, 2019.
Sweden based Oasmia Pharmaceutical AB develops, manufactures, markets, and sells drugs in the field of human and veterinary oncology primarily in Sweden.
On July 9, 2019, post-market, Oasmia reported that it had terminated its “engagement and cooperation” with former executive chairman Julian Aleksov without further pay, following a tax audit that revealed missing funds connected to suspicious transactions between Oasmia and companies controlled by Aleksov and his former father-in-law. Shares of Oasmia Pharmaceutical AB (publ) (NASDAQ: OASM) declined from $5.06 per share in November 2018 to as low as $1.78 per share on July 11, 2019.
According to the complaint the plaintiff alleges on behalf of purchasers of Oasmia Pharmaceutical AB (publ) (NASDAQ: OASM) common shares between October 23, 2015 through July 9, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 23, 2015 through July 9, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Oasmia engaged in improper related-party transactions with Alceco International S.A. and Ardenia Investment LTD, which were controlled by Defendant Aleksov and his former father-in-law, that due to those transactions, millions of Swedish kronor were not accounted for in Oasmia's books;, that transactions concerning Oasmia's patents were also carried out in a doubtful way; and that as a result of the aforementioned misconduct, defendants' statements about Oasmia's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.