Sign In
Step 1
Draft
Step 2
Unite with Fellow Investors
Step 3
Choose the Best Attorney
Step 4
Provide Documents
Step 5
Follow Case Progress
Step 6
Get Payout
ADMS.US
id: 1128

Adamas Pharmaceuticals (ADMS) $4.65 Million Shareholder Settlement

$4,650,000
Cash Settlement
N.D. California
Court
4:19-cv-08051
Case number
08/08/2017
Class period Start
03/04/2019
Class period End
08/28/2024
Claim deadline

Adamas (ADMS) has agreed to settle $4.65 million with investors to resolve claims regarding the overstatement of their lead product's prospects.

Case Details:

On March 4, 2019, Adamas revised GOCOVRI's growth estimates, warned of prescription slowdown, and didn't predict market share.

Following the news, $ADMS dropped over 32% the next day, causing investor losses.

On September 30, 2019, an analyst downgraded Adamas due to coverage issues for GOCOVRI and anticipated reimbursement challenges with generic Ampyra.

Following this news, $ADMS dropped over 42% by October 3, 2019.

Based on these events, Adamas was accused of the following:

  • They didn't reveal that insurers excluded GOCOVRI from prescription lists.

  • The rise in GOCOVRI prescriptions wasn't due to its effectiveness, resulting in false financial statements.

Adamas has now decided to end all the allegations related to the financial misrepresentation and overstating GOCOVRI prospects and pay a $4.65M settlement to investors.

Case Type
US Securities Class Action
Case Status
Distribution Started
Alleged Offence
Misleading Statements, 
Failure to Disclose, 
Omissions
Suspected Party
Directors, 
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.27
Filing date
12/10/2019
Plaintiffs
Ralph Martinez
Attorneys
Glancy Prongay & Murray LLP
Defendants
Gregory T. Went, Alfred G. Merriweather, Richard A. King, Rajiv Patni, Vijay Shreedhar
Judge
Hon. Jeffrey S. White
Administrator
Strategic Claims Services
Settlement agreement date
2024-03-04
Court hearing date
08/09/2024
Exclusion deadline
08/09/2024
Objection deadline
08/09/2024
Attorney fee
$1,669,845
Trades matching type
FIFO
Disbursement date
06/24/2025

Frequently Asked Questions

Who is eligible for this settlement?

All persons and entities that purchased or otherwise acquired the publicly traded common stock of Adamas, between August 8, 2017 and March 4, 2019, both dates inclusive, and were damaged thereby.

Do I have to sell securities to be eligible?

No, if you have purchased securities within the class period, you are eligible to participate.

You can participate in the settlement and retain (or sell) your securities.

How much will my payment be?

The final payout amount depends on your specific trades and the number of investors participating in the settlement.

If 100% of investors file their claims - the average payout will be $0.27 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $1.08 per share.

How long does the payout process take?

The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.

What is 11thestate?

11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:

  1. Prepare documents for your payout

  2. Audit the claim and make sure you get the maximum possible payout

  3. File a claim with the settlement administration

  4. Correspond with the settlement administration to resolve emerging issues

  5. Deliver payout directly to your brokerage account

There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.