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Roche Holding Ltd. (ADR) (OTCMKTS:RHHBY) Investor Securities Class Action Lawsuit 06/06/2017

  • If you purchased shares of Roche Holding Ltd. (ADR) (OTCMKTS:RHHBY), you may have certain options. Please 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

Case Dismissed
Company
Roche
Security
OTCMKTS: RHHBY

Case Name
Roche Shareholder Class Action Lawsuit 06/06/2017
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of New Jersey

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

June 17, 2019 - The court granted the defendants' motion to dismiss.

May 8, 2019 - A motion to dismiss the third amended complaint was filed.

April 24, 2019 - A third amended complaint was filed.

April 3, 2019 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

December 21, 2018 - A motion to dismiss the second amended complaint was filed.

October 15, 2018 - A second amended complaint was filed.

September 24, 2018 - The court granted the defendants' motion to dismiss.

June 4, 2018 - A motion to dismiss the amended complaint was filed.

March 5, 2018 - An amended complaint was filed.

June 6, 2017 (Shareholders Foundation) - An investor in shares of Roche Holding Ltd. (ADR) (OTCMKTS:RHHBY) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Roche Holding Ltd. in connection with certain allegedly false and misleading statements made between March 2, 2017 and June 5, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Roche Holding Ltd. (ADR) (OTCMKTS:RHHBY) common shares between March 2, 2017 and June 5, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 2, 2017 and June 5, 2017 the defendants made false and/or misleading statements and/or failed to disclose that the combination of Perjeta and Herceptin is only marginally more effective than Herceptin alone in preventing breast cancer, and that as a result, Defendants’ statements about Roche’s business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.

Switzerland based Roche Holding AG (Roche) is a research-based healthcare company. Roche Holding Ltd. reported that its annual Total Revenue rose from over 48.14 billion CHF in 2015 to over 50.57 billion CHF in 2016 and that its Net income increased from over 8.86 billion CHF in 2015 to over 9.57 billion CHF in 2016. Shares of Roche Holding Ltd. (ADR) (OTCMKTS:RHHBY) grew from $27.08 per share in December 2016 to $34.67 per share on May 22, 2017.

On June 5, 2017, news outlets reported that a new study showed that adding Roche’s breast cancer drug Perjeta to the company’s older treatment Herceptin only conferred a slight benefit while more than doubling the one-year treatment cost. The study also found that the combination of Perjeta with Herceptin also had higher rates of certain side effects than Herceptin alone, including severe diarrhea. Shares of Roche Holding Ltd. (ADR) (OTCMKTS:RHHBY) declined to as low as $31.59 per share on June 5, 2017.

On June 6, 2017, OTCMKTS:RHHBY shares closed at $32.23 per share.