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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 October 23, 2019 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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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
Settlement Overview
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June 14, 2019 - The court preliminarily approved the settlement.
March 11, 2019 - A stipulation of settlement was filed by the parties.
April 13, 2018 - The court terminated the case.
April 11, 2018 - A notice of appeal was filed.
March 15, 2018 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.
August 25, 2017 - A motion to dismiss the amended complaint was filed.
June 26, 2017 - An amended complaint was filed.
February 3, 2017 - An investor in shares of Stemline Therapeutics Inc (NASDAQ: STML) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Stemline Therapeutics Inc in connection with certain allegedly false and misleading statements made between.
According to the complaint the plaintiff alleges on behalf of purchasers of Stemline Therapeutics Inc (NASDAQ: STML) securities pursuant and/or traceable to Stemline Therapeutics Inc’s secondary public offering on or about January 20, 2017 and/or publicly traded on the open market between January 19, 2017 and February 1, 2017, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that a cancer patient in a Stemline Therapeutics Inc clinical trial tied to SL-401 died from a severe side effect on January 18, 2017, and that as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
New York based Stemline Therapeutics Inc is a clinical-stage biopharmaceutical company focused on discovering, acquiring, developing and commercializing oncology therapeutics.
Stemline Therapeutics Inc went public in early 2013. Shares of Stemline Therapeutics Inc (NASDAQ: STML) grew from $4.20 per share in February 2016 to as high as $14.25 per share on January 11, 2017.
On January 19, 2017, Stemline Therapeutics Inc announced the proposed public offering of common stock. On January 20, 2017, Stemline Therapeutics Inc announced the pricing of the public offering of 4.5 million shares of its common stock at a price of $10.00 per share, with expected gross proceeds of $45 million.
On February 2, 2017, it was reported that a cancer patient in a clinical trial died on January 18, 2017 from a severe side effect tied to Stemline Therapeutics Inc’s drug SL-401, which was not disclosed to investors who bought into Stemline Therapeutics Inc’s public offering.
Shares of Stemline Therapeutics Inc (NASDAQ: STML) dropped to as low as $5.50 per share on February 2, 2017.