Related Documents:
Complaint
On September 18, 2018, the SEC filed a complaint against Clovis Oncology, Inc., stating: "From approximately July 8, 2015 through November 16, 2015 (the "relevant time period"), Clovis Oncology, Inc. ("Clovis" or the "company"), a biopharmaceutical company based in Boulder, Colorado and listed on NASDAQ, and its current Chief Executive Officer ("CEO"), Patrick Mahaffy ("Mahaffy"), negligently made untrue statements of material fact and/or omitted to state material facts necessary in order to make the statements they made not misleading to investors about its flagship lung cancer drug, rociletinib ("Roci")."
Biopharmaceutical Company, Executives Charged with Misleading Investors About Cancer Drug
On September 18, 2018, the SEC issued a litigation release regarding charges against Clovis Oncology, Inc., stating: "The SEC's complaint filed in federal court in Denver alleges that over a four-month period starting in July 2015, Clovis Oncology Inc. and CEO Patrick Mahaffy misled investors about how well Clovis' flagship lung cancer drug worked compared to another drug."
Final Judgment as to Defendant Clovis Oncology, Inc.
The Court stated: "The Securities and Exchange Commission having filed a Complaint and Defendant Clovis Oncology, Inc. having entered a general appearance; consented to the Court's jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction and except as otherwise provided herein in paragraph V); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment."
Order to Establish a Fair Fund; Appoint a Tax Administrator; and Authorize Payment of Future Tax Obligations and Fees and Expenses of the Tax Administrator
The Court ordered: "the Commission's Motion to Establish a Fair Fund, Appoint a Tax Administrator, and Authorize Payment of Future Taxes, Fees, and Expenses of the Tax Administrator .... is granted", and appointed Miller Kaplan Arase LLP as Tax Administrator of the Fair Fund.
Order to Appoint a Distribution Agent and Authorize Payment of Future Fees and Expenses of the Distribution Agent from the Fair Fund
The Court appointed Epiq Class Action & Claims Solutions, Inc. as the Distribution Agent for the Fair Fund, and ordered: "the Commission's Motion to Appoint a Distribution Agent, and to Authorize Payment of Future Fees and Expenses of the Distribution Agent from the Fair Fund .... is granted."
Order Approving Distribution Plan for the Fair Fund
The Court approved the SEC's "proposed plan to distribute more than $20 million to compensate harmed Clovis Oncology, Inc. investors for their losses."
