Settlement of KBC Asset Management NV, et al. v. Aegerion Pharmaceuticals, Inc., et al.
Case No. 1:14-cv-10105-MLW
The parties have reached a settlement of this action, pending in the United States District Court for the District of Massachusetts. The settlement provides for the payment of $22,250,000 for the benefit of eligible Class Members. Lead Plaintiffs KBC Asset Management NV, Sheet Metal Workers’ National Pension Fund and Chester County Employees’ Retirement Fund alleged that Defendants violated §§10(b) and 20(a) of the Securities Exchange Act of 1934 by, among other things, issuing false and misleading statements and/or failing to disclose that Aegerion Pharmaceuticals, Inc. (“Aegerion”) had been illegally marketing JUXTAPID beyond its FDA-approved label, Aegerion was experiencing a higher than expected drop-out rate for JUXTAPID and more patients than expected were not filling their JUXTAPID prescriptions, and, relatedly, issues existed concerning the performance and potential market for JUXTAPID that were not consistent with Defendants’ public statements.
The Class consists of all Persons who purchased or otherwise acquired Aegerion publicly traded common stock between April 30, 2013 and May 11, 2016, inclusive. Excluded from the Class are: Defendants, the officers and directors of Aegerion during the Class Period, members of their immediate families and their legal representatives, heirs, successors or assigns, and any entity in which Defendants have or had a controlling interest. Also excluded from the Class is any Class Member that validly and timely requests exclusion in accordance with the requirements set by the Court.
The settlement was preliminarily approved by the Court on June 29, 2017. The Court has scheduled a final approval hearing for November 30, 2017, at 2:00 p.m.
If you are a Class Member, to receive a payment from the settlement proceeds, you must submit a claim form postmarked no later than November 17, 2017. The claim form can be obtained by clicking on the Proof of Claim and Release link below.
Alternatively, you can submit your claim online. Online claims must be submitted by November 17, 2017. For more information, and to file your claim online, visit the Claims Administrator’s Aegerion Securities Litigation website at www.aegerionsecuritieslitigation.com.
If you have any questions about the settlement or the litigation, please contact Rick Nelson at 1-800-449-4900.