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McGuire v. Dendreon Corporation
et al (Provenge)
USDC WD Washington
FDA
Background
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 Company
background
Litigation
background
- McGuire v. Dendreon Corporation et al
- USDC WD Washington Hon. (Seattle)
2:07-cv-00800-MJP
- Hon. Marsha J. Pechman
- Filed 5.24.07
Lead
plaintiffs
SEC
disclosure
- Form 10-Q at page 24
Four proposed securities class action suits have been filed in the United
States District Court for the Western District of Washington. Three of these
suits name Dendreon and our chief executive officer as defendants and allege a
proposed class period of March 30, 2007 through May 8, 2007. One suit names
Dendreon, four of our executive officers, and two members of our Board of
Directors and alleges a proposed class period of March 1, 2007 through May 8,
2007. All four proposed class action suits purport to state claims for
securities law violations stemming from our disclosures related to Provenge and
the FDAs actions regarding our pending BLA for Provenge. The complaints seek
compensatory damages, attorneys fees and expenses. On October 4, 2007, the
Court consolidated these actions under the caption McGuire v. Dendreon
Corporation, et al., and designated a lead plaintiff. The lead plaintiff
designated the complaint filed June 6, 2007 in McGuire, et al. v. Dendreon
Corporation, et al., as the operative complaint. On December 21, 2007, the
Company and individual defendants jointly filed a motion to dismiss the
complaint. Lead plaintiff filed an opposition thereto. The Court held a hearing
on the motion to dismiss on March 27, 2008. By order dated April 18, 2008, the
Court granted the motion to dismiss the complaint, holding that plaintiffs
failed to plead a claim against the Company or the individual defendants, and
allowing plaintiffs thirty days to file an amended complaint. Lead plaintiff
filed an amended complaint on June 2, 2008, naming Dendreon, our chief executive
officer, and a senior vice president as defendants. Defendants filed a motion to
dismiss the amended complaint on July 2, 2008, and lead plaintiff filed his
opposition to the motion to dismiss on July 31, 2008. Defendants reply brief is
due August 20, 2008. Oral argument has not been scheduled.
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Claims
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Complaint
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SEC Disclosure
Motion to Dismiss First Amended Complaint Pending
SEC_CODE_REF_0090001192884
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Motion
to dismiss
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Motion to Dismiss Granted
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Motion
to dismiss
Order
- Plaintiffs have failed to plead with
particularity all facts showing that Defendants statements were misleading and
made with the requisite scienter. Defendants Motion to
Dismiss is therefore GRANTED. Plaintiffs are GRANTED leave to amend their
Complaint. Any such amendment shall be filed within thirty (30) days of this
order.
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Lead Plaintiff and Counsel Appointed
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Opinion
- Denying plaintiff Mountanos Group's motion to
disqualify lead plaintiff
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Counsel
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Lead
plaintiff
Company
defense
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Related Topics
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