Case Number: No. C 07-4056 VRW
Practice Area: Securities Fraud & Investor Protection
Case Status: Settled
Settlement Amount: $8.9 million
Court: United States District Court for the Northern District of California
Berger Montague served as co-counsel and obtained an $8.9 million settlement for the class of investors in this securities fraud class action. The case was litigated in the United States District Court for the Northern District of California and captioned In re Nuvelo, Inc. Securities Litigation, No. C 07-4056 VRW (N.D. Cal.).
The plaintiffs alleged that Nuvelo, Inc. misled investors by repeatedly trumpeting prior clinical success in the ongoing clinical trials of its lead drug candidate, alfimeprase, to treat blocked leg arteries and blocked catheters. The lawsuit also alleged that the defendants failed to disclose that the U.S. Food and Drug Administration imposed an extraordinarily stringent standard for statistical significance on the clinical trial of alfimeprase for blocked catheters.
If you are an investor and have questions about a potential securities fraud lawsuit, please contact Berger Montague.
About Berger Montague
Berger Montague is a national law firm focusing on complex civil litigation in federal and state courts throughout the United States. For over half a century, Berger Montague has played lead roles in consequential, precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago, Minneapolis, San Diego, San Francisco, Toronto, and Washington, D.C.