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Steinberg v. Aegerion Pharmaceuticals, Inc.

United States District Court, D. Massachusetts

November 27, 2016

CHAILE STEINBERG, Individually and On Behalf of All Others Similarly Situated, Plaintiff,
v.
AEGERION PHARMACEUTICALS, INC., DAVID SCHEER, SOL J. BARER, ANTONIO M. GOTTO JR., SANDFORD P. SMITH, PAUL G. THOMAS, ANNE M. VANLENT, JORGE PLUTZKY, DONALD K. STERN, QLT INC., and ISOTOPE ACQUISITION CORP., Defendants.

          MATORIN LAW OFFICE, LLC Mitchell J. Matorin (BBO #649304) Attorneys for Plaintiff.

          ROPES & GRAY LLP C. Thomas Brown (BBO #667558) Attorneys for Aegerion Pharmaceuticals, Inc., David Scheer, Sol J. Barer, Antonio M. Gotto Jr., Sandford D. Smith, Paid G. Thomas, Anne M. Vanlent, Jorge Plutzky, and Donald K. Stern

          WEIL GOTSHAL & MANGES LLP Patrick J. O'Toole, Jr. (BBO #559267) WEIL, GOTSHAL & MANGES LLP Attorneys for Defendants QLT Inc. and Isotope Acquisition Corp.

          STIPULATION AND ORDER DISMISSING ACTION AND RESERVING JURISDICTION FOR PLAINTIFF'S COUNSEL'S APPLICATION FOR AN AWARD OF ATTORNEYS' FEES & REIMBURSEMENT OF EXPENSES

         WHEREAS, Plaintiff filed the above-captioned action (the "Action") challenging the public disclosures made in the preliminary proxy statement filed with the United States Securities and Exchange Commission ("SEC") on or around August 8, 2016 in connection with the proposed acquisition of Aegerion Pharmaceuticals, Inc. ("Aegerion") by QLT Inc. ("Parent") through its wholly-owned subsidiary, Isotope Acquisition Corp. ("Merger Sub, " and together with Parent, "QLT");

         WHEREAS, the Action asserts claims for violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934;;

         WHEREAS, on or around October 6, 2016, Aegerion filed a Definitive Proxy Statement with the SEC;

         WHEREAS, on or around October 20, 2016, Aegerion filed a Form 8-K supplementing the disclosures contained in the Definitive Proxy Statement (the "Supplemental Disclosures"), which Plaintiff believes addressed and mooted his claims regarding the sufficiency of the disclosures in the preliminary proxy statement;

         WHEREAS, it is the current intention of counsel for Plaintiff to submit an application for an award of attorneys' fees and reimbursement of expenses (the "Fee and Expense Application") in connection with the claims that they believe have been mooted;

         WHEREAS, all of the Defendants in the Action reserve the right to oppose any potential Fee and Expense Application;

         WHEREAS, no class has been certified in the Action;

         WHEREAS, for the avoidance of doubt, no compensation in any form has passed directly or indirectly to Plaintiff or her attorneys and no promise, understanding, or agreement to give any such compensation has been made, nor have the parties had any discussions concerning the amount of any mootness fee application or award;

         WHEREAS, Defendants do not admit that the Supplemental Disclosures contain any material information or disclose additional material facts, and Defendants have denied and continue to deny any wrongdoing and contend that no claim asserted in the Action was ever meritorious;

         NOW, THEREFORE, upon consent of the parties and subject to the approval of the Court:

         IT IS HEREBY ORDERED this 27th day of ...


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