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CELG.US

id: 1768

Celgene ($CELG) $239M Investor Settlement

Eligible claimants can submit their claims for compensation.

$239,000,000

Cash Settlement

D. New Jersey

Court

2:18-cv-04772

Case number

04/27/2017

Class period Start

04/27/2018

Class period End

04/13/2026

Claim deadline

Celgene has agreed to settle $239 million with $CELG investors to resolve claims that it misled them about the development progress and regulatory outlook of three key drug products.

Outline:

Between 2015 and 2018, Celgene repeatedly stated that its drug pipeline was progressing toward regulatory approval and future sales. However, each of the company’s three key products encountered problems: GED-0301 failed in Phase III trials, the FDA issued a Refusal to File for ozanimod, and sales guidance for Otezla was lowered. Following these developments, $CELG declined sharply, and investors filed a lawsuit against the company.

Timeline:
Between April 2015 and October 2017: Celgene promoted GED-0301 as a major growth driver.
In October 2017: Celgene halted GED-0301 after trial failure, slashed its financial guidance, and $CELG fell 16%.
On February 27, 2018: the FDA declined to review ozanimod’s application.
In April 2018: Celgene warned of reduced Otezla growth.
In May 2018: Investors filed a class action lawsuit against Celgene.
On December 19, 2025: Celgene agreed to settle for $239 million with its investors, and the court approved all of the settlement’s terms.
In January 2026: The court set April 13, 2026, as the deadline to submit claims for the settlement.
Background:

For years, Celgene Corporation was viewed as one of the leading companies in biotechnology, largely based on its late-stage drug pipeline. From 2015 through 2017, the company highlighted a “triple threat” of key assets: GED-0301, ozanimod, and Otezla.

In public filings and investor presentations, Celgene repeatedly described this pipeline as the foundation of its long-term growth strategy. Celgene’s leadership consistently characterized GED-0301 as a near-term growth driver.

However, in October 2017, the company abruptly terminated the program after a preplanned interim analysis showed the drug failed to demonstrate sufficient efficacy in Phase III trials.

One week later, Celgene cut its revenue guidance, citing a significant gap in its pipeline after ending the GED-0301 program. After the announcement, $CELG fell by approximately 16%.

Further setbacks followed in early 2018. In February, the FDA issued a Refusal to File letter for ozanimod, stating that the application lacked required preclinical pharmacology data.

Around the same time, the company disclosed that sales of Otezla were below expectations and lowered its long-term growth outlook.

Following these developments, $CELG declined by more than 9% in a single trading day.

After these events, in March 2018, investors filed a lawsuit against Celgene, claiming that the company’s public statements about its pipeline and growth prospects were misleading.

What Can Investors Expect Now?

Celgene has agreed to settle $239 million with $CELG investors to resolve claims that it misled them about the development progress and regulatory outlook of three key drug products.

If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section below.

Case Type

US Securities Class Action

Case Status

Accepting Claims

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose

Suspected Party

Management

Security Type

Stocks

Trade Direction

Long

Payout per Share

0.58

Filing date

03/29/2018

Plaintiffs

AMF Pensionsförsäkring AB

Attorneys

Kessler Topaz Meltzer & Check LLP (Radnor, PA)

Defendants

Mark J. Alles; Robert J. Hugin; Scott A. Smith; Peter N. Kellogg

Administrator

JND Legal Administration

Court hearing date

05/26/2026

Exclusion deadline

04/23/2026

Objection deadline

04/23/2026

Attorney fee

$77,450,000

Trades matching type

FIFO

Frequently Asked Questions

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