$95M Amgen Investor Suit Approved
October 31, 2016
Thomas A. Dubbs comments on final settlement against biopharmaceutical company
Global biotechnology company Amgen Inc. has officially finalized a $95 million settlement with investors over alleged misstatements about two of its anti-anemia drugs, marking the end of a decade long case which reached the U.S. Supreme Court in 2013.
Partner and lead class counsel Thomas A. Dubbs spoke with the Daily Journal, calling the agreement an excellent victory for plaintiffs in light of the complicated facts inherent in all pharmaceutical-related cases.
"It is important for all investors to make sure that pharmaceutical companies comply with securities laws and make adequate disclosures, particularly about the details of clinical trials of new drugs," Dubbs said.
"We did extensive discovery dealing with clinical trials, which were some of the key issues involved in the case, and made a groundbreaking trip to the U.S. Supreme Court where we set a very important precedent," he added.