Juno Therapeutics Inc (NASDAQ: JUNO) Investor Securities Class Action Lawsuit 07/12/2016

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Company Name(s): 
Juno Therapeutics
Case Name: 
Juno Therapeutics Shareholder Class Action Lawsuit 07/12/2016
Case Status: 
Lawsuit Filed
Case Status: 
Settlement Proposed
Affected Securities
NASDAQ: JUNO
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
07/12/2016
Class Period Begin: 
06/04/2016
Class Period End: 
11/22/2016
Court of Filing: 
U.S. District Court for the Western District of Washington
Deadline To File for Lead: 
09/12/2016
Date Settled: 
08/08/2018
Settlement Amount: 
$24,000,000
Deadline to Participate in Settlement: 
11/06/2018
Summary: 

August 8, 2018 - The court preliminarily approved the settlement.

August 2, 2018 - Parties filed a stipulation of settlement.

June 29, 2018 - The court granted the stipulation.

June 28, 2018 - The parties filed a stipulation agreeing in principle to a class action settlement of this action.

June 14, 2017 - The court denied defendants' motion to dismiss.

February 2, 2017 - Defendants filed a motion to dismiss.

December 12, 2016 - The lead plaintiff filed an amended consolidated complaint on behalf of investors who purchased Juno Therapeutics Inc (NASDAQ: JUNO) common shares between June 4, 2016 and November 22, 2016. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between June 4, 2016 and November 22, 2016.

October 19, 2016 - Lead plaintiff and lead counsel were appointed and all cases were consolidated.

September 12, 2016 - Lead plaintiff motions were filed.

July 12, 2016 - An investor in shares of Juno Therapeutics Inc (NASDAQ: JUNO) filed a lawsuit in the U.S. District Court for the Western District of Washington over alleged violations of Federal Securities Laws by Juno Therapeutics Inc in connection with certain allegedly false and misleading statements made between June 4, 2016 and July 7, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of Juno Therapeutics Inc (NASDAQ: JUNO) common shares between June 4, 2016 and July 7, 2016 , that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between June 4, 2016 and July 7, 2016 the defendants materially misled investors by failing to disclose the May 2016 death of a patient in the Company’s Phase 2 trial of product candidate JCAR015 and that these omissions led Juno to trade at artificially inflated prices, and certain insiders participated in the heavy selling of shares in the weeks prior to the disclosure of the death.

On July 7, 2016, Juno Therapeutics Inc announced that it has received notice from the U.S. Food and Drug Administration (FDA) that a clinical hold has been placed on the Phase II clinical trial of JCAR015 in adult patients with relapsed or refractory B cell acute lymphoblastic leukemia (r/r ALL), known as the “ROCKET” trial. Juno Therapeutics Inc said that the clinical hold was initiated after two patient deaths one week earlier, which followed the recent addition of fludarabine to the pre-conditioning regimen.

Shares of Juno Therapeutics Inc (NASDAQ: JUNO) declined on July 12, 2016 to as low as $27.15 per share.