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AKCA.US
id: 318
The settlement funds have been distributed to claimants.
$12,500,000
Cash SettlementDelaware court of Chancery
Court2021-0681-LWW
Case number07/19/2017
Class period Start10/12/2020
Class period End10/11/2022
Claim deadlineAkcea agreed to pay $12.5 million to settle a securities class action lawsuit.
The original complaint alleged that the Company's Director and Ionis as the majority stockholder of Akcea breached their fiduciary duties in connection with the Merger, including by, among other things, not properly accounting for the value of claims brought in the Derivative Litigation when negotiating the $18.15 price to be paid in the Merger.
Akcea agreed to settle with investors to avoid further litigation.
Case Status
Disbursed
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Plaintiffs
John Makris, Sean Sego, Omar Wever-Pinzon, Jordan Schlee
Attorneys
Labaton Sucharow LLP
Judge
Hon.Lori Will
Administrator
A.B. Data Ltd
Court hearing date
10/11/2022
Trades matching type
FIFO
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