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Trevena, Inc. (NASDAQ: TRVN) Investor Securities Class Action Lawsuit 10/11/2018

  • You must submit the settlement "Proof" form attached below, in order to participate in this settlement. There is a strict deadline of September 27, 2021, 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.

  • 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

Company
Trevena Inc
Security
NASDAQ: TRVN

Case Name
Trevena Shareholder Class Action Lawsuit 10/11/2018
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Eastern District of Pennsylvania

Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
Trevena_Settlement_04_19_2021.pdf
Settlement Proof
Trevena_Proof_04_19_2021.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$8,500,000.00
Deadline to Participate in Settlement

You must register to view and download the Settlement Notice and Settlement Proof.

Summary

May 3, 2021 - The court preliminarily approved the settlement.

April 19, 2021 - A stipulation of settlement was filed by the parties.

August 28, 2020 - The court denied the defendants' motion to dismiss.

October 2, 2019 - A motion to dismiss the consolidated amended complaint was filed.

August 2, 2019 - A consolidated amended complaint was filed.

October 11, 2018 - An investor in shares of Trevena, Inc. (NASDAQ: TRVN) filed a lawsuit in the U.S. District Court for the Eastern District of Pennsylvania over alleged violations of Federal Securities Laws by Trevena, Inc. in connection with certain allegedly false and misleading statements made between May 2, 2016 and October 8, 2018.

Chesterbrook, PA Trevena, Inc., a biopharmaceutical company, develops therapies based on breakthrough science to benefit patients and healthcare providers confronting serious medical conditions.

On May 2, 2016, Trevena, Inc announced that it had “reached general agreement” with the FDA on key elements of its Phase 3 program for oliceridine (TRV130) and was “very pleased” with the outcome of its discussions with the FDA.

On October 9, 2018, minutes from the FDA’s April 28, 2016 meeting with Trevena, Inc were released and showed that the FDA: “did not agree with the proposed dosing in the Phase 3 studies”; “did not agree with the proposed primary endpoint”; and “did not agree with the proposed non-inferiority (NI) margin for comparing morphine to oliceridine". Shares of Trevena, Inc. (NASDAQ: TRVN) declined form $3.44 per share on October 5, 2018 to as low as $0.88 per share on October 10, 2018. According to the complaint the plaintiff alleges on behalf of purchasers of Trevena, Inc. (NASDAQ: TRVN) common shares between May 2, 2016 and October 8, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 2, 2016 and October 8, 2018, Trevena misled its shareholders to believe that its April 28, 2016 End-of-Phase 2 Meeting with the United States Food and Drug Administration (FDA) was far more successful than it actually was.

Date Settled