Welcome to the Aegerion Pharmaceuticals, Inc. Securities Litigation
This website has been established to provide general information related to the proposed settlement ("Settlement") of the action captioned KBC Asset Management NV, et al. v. Aegerion Pharmaceuticals, Inc., et al., No. 1:14-cv-10105-MLW. The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated January 17, 2017, which can be found and downloaded by clicking on the Case Documents tab above.
The Court ordered that the law firms of Robbins Geller Rudman & Dowd LLP and Motley Rice LLC represent the Class Members, including you. These lawyers are called Lead Counsel. If you want to be represented by your own lawyer, you may hire one at your own expense.
The Settlement Amount of $22.25 million and any interest earned thereon is the “Settlement Fund.” The Settlement Fund, less all taxes, approved costs, fees, and expenses (the “Net Settlement Fund”) shall be distributed to Class Members who submit timely and valid Proof of Claim forms to the Claims Administrator (“Authorized Claimants”). The Plan of Allocation provides that you will be eligible to participate in the distribution of the Net Settlement Fund only if you have an overall net loss on all of your transactions in Aegerion Pharmaceuticals, Inc. ("Aegerion" or the "Company") publicly traded common stock during the Class Period. The Plan of Allocation is described in more detail in the Notice which will be posted on the initial mailing date, July 20, 2017.
The Nature of this Lawsuit
The Litigation is pending before the Honorable Mark L. Wolf in the United States District Court for the District of Massachusetts (the “Court”). The initial complaint in this action was filed on January 15, 2014. Lead Plaintiffs allege that Defendants violated Sections 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: (i) despite asserting their compliance with FDA rules and regulations, in order to achieve and maintain profitability, Defendants illegally marketed JUXTAPID beyond its FDA-approved label; (ii) the Company was experiencing a higher than expected drop-out rate for JUXTAPID; (iii) more patients than expected were not filling their JUXTAPID prescriptions; and (iv) issues existed relating to the performance of, or the potential market for, JUXTAPID, including, but not limited to, statements and omissions of information necessary for investors to understand that JUXTAPID was not performing and could not lawfully perform as well in the market as the Defendants’ statements and omissions led the public to believe. Lead Plaintiffs further allege that the drop-out rate and patient-elected non-starts were key metrics that Aegerion utilized to forecast its annual revenue guidance.
Additional Information
The Class is defined as all Persons who purchased or otherwise acquired Aegerion publicly traded common stock between April 30, 2013 and May 11, 2016, inclusive, except those Persons and entities that are excluded.
Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation.
Your Legal Rights and Options in This Settlement
| Submit a Proof of Claim |
The only way to be eligible to receive a payment from the Settlement. Unless otherwise extended by the Court, Proof of Claim forms must be postmarked (if mailed) or received (if submitted online) on or before November 17, 2017. |
| Exclude Yourself |
Get no payment. This is the only option that potentially allows you to ever be part of any other lawsuit against the Defendants or any other Released Persons about the legal claims being resolved by this Settlement. Unless otherwise extended by the Court, exclusions must be postmarked on or before October 31, 2017. |
| Object |
Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and expenses. You will still be a Member of the Class. Unless otherwise extended by the Court, objections must be received by the Court and counsel for the Settling Parties on or before October 31, 2017. |
| Go to the Hearing on November 30, 2017 at 2:00 P.M. ET |
Ask to speak in Court about the fairness of the Settlement. Unless otherwise extended by the Court, requests to speak must be received by the Court and counsel for the Settling Parties on or before October 31, 2017. |
| Do Nothing |
Receive no payment. You will, however, still be a Member of the Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Persons about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Litigation. |
Important Dates & Deadlines
| Submit a Proof of Claim |
November 17, 2017 |
| Exclusions |
October 31, 2017 |
| Objections |
October 31, 2017 |
| Court Hearing on Fairness of Settlement |
November 30, 2017, at 2:00 p.m. ET |