Proposed Class Action Settlement Announced for Celgene Investors: Important Updates
In a significant development for investors, Kessler Topaz Meltzer & Check, LLP has announced a proposed settlement concerning a class action lawsuit related to Celgene Corporation common stock bought between April 27, 2017, and April 27, 2018. This settlement, which amounts to a substantial $239 million in cash, seeks to address allegations that Celgene, along with two of its former executives, Terrie Curran and Philippe Martin, transgressed federal securities laws by making misleading statements regarding certain products during the class period.
The allegations cite the introduction of various drugs such as GED-0301, Otezla, and Ozanimod, with claims suggesting that misleading information about these products had an adverse impact on investors. Despite these allegations, the defendants have denied any wrongdoing.
A settlement hearing is scheduled for May 4, 2026, where the court will evaluate whether this proposal is fair, reasonable, and adequate. The hearing will take place before the Honorable Michael E. Farbiarz of the United States District Court for the District of New Jersey. Participants can choose to attend in person, via telephone, or by videoconference.
Class members who hold Celgene stock during the defined period should pay careful attention, as their rights may be significantly impacted by the proceedings. As part of the process, a plan for allocating the settlement funds will also be reviewed and approved during the hearing. Legal fees for the plaintiffs' attorneys are proposed not to exceed 22.2% of the settlement fund, plus associated litigation costs of up to $5.75 million.
For those eligible, the deadline to submit claims is April 13, 2026. It is critical that class members submit their Claim Form, either via mail or online, to be eligible for any share of the settlement. Failing to submit a valid claim will disqualify individuals from receiving any payment but will still bind them by the court’s decisions.
Class members wishing to voice their concerns about the settlement, including payment allocations or fees, can file objections until April 23, 2026. These objections must be presented to the court and shared with both the plaintiffs' and defendants' counsel as detailed in the settlement notice documentation.
Updates regarding the settlement hearing, including potential changes to the schedule or format of the hearing, will be available on the dedicated case website, www.CelgeneSecuritiesLitigation.com. Questions about the settlement notice or eligibility should be directed to the Claims Administrator or the plaintiffs' counsel.
For more detailed information, class members and those interested in the proceedings can access full documents related to the settlement online, including the claim form. Indications are that this class action settlement may provide substantial relief to those affected by Celgene’s alleged securities violations, making the upcoming hearing a pivotal moment for involved investors.
This case serves as a critical reminder of the importance of transparency and lawful conduct in the corporate sector and the rights of investors who put their trust in these entities. As the legal landscape continues to evolve, stakeholders are encouraged to remain informed and actively participate in the legal remedies afforded to them through such settlements.
The allegations cite the introduction of various drugs such as GED-0301, Otezla, and Ozanimod, with claims suggesting that misleading information about these products had an adverse impact on investors. Despite these allegations, the defendants have denied any wrongdoing.
A settlement hearing is scheduled for May 4, 2026, where the court will evaluate whether this proposal is fair, reasonable, and adequate. The hearing will take place before the Honorable Michael E. Farbiarz of the United States District Court for the District of New Jersey. Participants can choose to attend in person, via telephone, or by videoconference.
Class members who hold Celgene stock during the defined period should pay careful attention, as their rights may be significantly impacted by the proceedings. As part of the process, a plan for allocating the settlement funds will also be reviewed and approved during the hearing. Legal fees for the plaintiffs' attorneys are proposed not to exceed 22.2% of the settlement fund, plus associated litigation costs of up to $5.75 million.
For those eligible, the deadline to submit claims is April 13, 2026. It is critical that class members submit their Claim Form, either via mail or online, to be eligible for any share of the settlement. Failing to submit a valid claim will disqualify individuals from receiving any payment but will still bind them by the court’s decisions.
Class members wishing to voice their concerns about the settlement, including payment allocations or fees, can file objections until April 23, 2026. These objections must be presented to the court and shared with both the plaintiffs' and defendants' counsel as detailed in the settlement notice documentation.
Updates regarding the settlement hearing, including potential changes to the schedule or format of the hearing, will be available on the dedicated case website, www.CelgeneSecuritiesLitigation.com. Questions about the settlement notice or eligibility should be directed to the Claims Administrator or the plaintiffs' counsel.
For more detailed information, class members and those interested in the proceedings can access full documents related to the settlement online, including the claim form. Indications are that this class action settlement may provide substantial relief to those affected by Celgene’s alleged securities violations, making the upcoming hearing a pivotal moment for involved investors.
This case serves as a critical reminder of the importance of transparency and lawful conduct in the corporate sector and the rights of investors who put their trust in these entities. As the legal landscape continues to evolve, stakeholders are encouraged to remain informed and actively participate in the legal remedies afforded to them through such settlements.
Topics Financial Services & Investing）
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