Schaffer v. Horizon Pharma PLC.

Updated: November 14, 2016
Status: Ongoing Case
On June 3, 2016, Labaton Sucharow was appointed lead counsel in this securities fraud class action against biopharmaceutical company Horizon Pharma PLC.

The lead plaintiffs allege that the defendants made false and misleading statements about the success and sustainability of Horizon’s “Prescriptions-Made-Easy” patient assistance program—a critical component to maintaining prescriptions sales for its two highest-selling drugs, DUEXIS and VIMOVO—and the improper manner in which it was expanding that program.  

The lead plaintiffs filed the amended consolidated class action complaint on October 7, 2016.  

The case is Schafer v. Horizon Pharma, PLC, No. 16-cv-1763 (S.D.N.Y.). Labaton Sucharow represents lead plaintiffs Northern California Carpenters and I.U.O.E. Locals 306 and 612. The defendants are Horizon Pharma PLC, Chief Executive Officer Timothy P. Walbert, Chief Financial Officer Paul W. Hoelscher, Chief Business Officer Robert F. Carey, and board members William F. Daniel, Michael Grey, Jeff Himawan, Virinder Nohria, Ronald Pauli, Gino Santini, and H. Thomas Watkins. The underwriter defendants are Citigroup Global Markets, Inc., Jefferies LLC, Cowen & Company LLC, and Morgan Stanley & Co. LLC.