Case No. 2:14-cv-01149-CCC-MF
Welcome to the Information Website for the MDCO Securities Litigation.
If you purchased or otherwise acquired securities of The Medicines Company (“MDCO” or the “Company”) between January 8, 2013 and February 12, 2014, both dates inclusive (the “Class Period”), you could be entitled to a payment from a class action settlement (the “Settlement”).
Please review the Notice for further details about this matter.
This case is known as Schuler v. The Medicines Co., et al., Case No. 2:14-cv-01149-CCC-MF (the “Action”). The United States District Court for the District of New Jersey is in charge of the Action, and the case has been assigned to the Honorable Claire C. Cecchi.
MDCO is a pharmaceutical company that provides medical solutions to acute- and intensive-care hospitals worldwide, focusing on acute cardiovascular care, surgery and perioperative care, and serious infectious disease care. During the Class Period, one of its most promising prospects was cangrelor, an anti-platelet blood thinner designed to prevent clotting during percutaneous coronary intervention (“PCI”), also known as coronary angioplasty. PCI is a non-surgical procedure used to open an obstructed coronary artery by inserting a balloon-tipped catheter into the artery and then inflating the balloon at the obstruction site. Usually, PCI also includes the placement of a small tube (a stent) to keep the artery open.
Lead Plaintiff asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Securities and Exchange Commission Rule 10b-5. Lead Plaintiff alleges that, between January 8, 2013 and February 12, 2014, Defendants made false and misleading statements about cangrelor, the conduct and results of its final clinical trial, and its prospects for FDA approval. Lead Plaintiff further alleges that investors were harmed on February 10, 2014, when the FDA released Briefing Documents criticizing the cangrelor drug trial and on February 12, 2014, when the FDA advisory panel voted to recommend against approving cangrelor.
Defendants have denied and continue to deny each and all of the allegations made and claims brought by Lead Plaintiff and maintain that they have meritorious defenses.
In exchange for the Settlement and the release of the Released Claims as well as dismissal of the Action, Defendants have agreed that a payment of $4.25 million will be made by Defendants (or on their behalf) to be divided, after taxes, fees, and expenses, pro rata among all Class Members who send in a valid Proof of Claim form.