In the case of HsingChing Hsu v. Puma Biotechnology, Inc., et al., No. 8:15-cv-00865 (the “Litigation”), a two week trial began on January 15, 2019 in the United States District Court for the Central District of California, Southern Division. On February 4, 2019, the jury returned a verdict. The jury found that defendants Puma and Alan H. Auerbach violated the federal securities laws by making false and misleading statements about the efficacy of Puma’s drug, neratinib, in a clinical trial and that defendants did so in knowing violation of sections 10(b) and 20(a) of the Securities Exchange Act of 1934. As a result of this fraudulent conduct, the jury determined that Puma’s stock price was artificially inflated by $4.50 per share between July 22, 2014 and May 13, 2015. You can find a copy of the complaint, jury verdict, and more information about the trial and claims process under Case Documents. 

Unless you previously requested to be excluded from the Class, you will be bound by all determinations and judgments in the Litigation. You must have already filed a claim form (court-ordered deadline was January 28, 2020) to collect for any damages you suffered. You may do nothing at all and not file a claim. If you choose that option, you will not recover anything, but you will be bound by any judgments entered by the Court. You may not opt out of this action.

If you are a member of the Class, you may, but are not required to, enter an appearance through counsel of your own choosing at your own expense. If you do not do so, you will be represented by Class Counsel: Robbins Geller Rudman & Dowd LLP.

Class Counsel and the Lead Plaintiff will make an application for fees and expenses following the claims process for Class Members. Class Counsel will seek fees of 25% of the aggregate damages, plus interest, and litigation expenses in an amount not to exceed $2,500,000, not including costs associated with the notice and claims process. Lead Plaintiff Norfolk Pension Fund, which prosecuted the case on behalf of all Class Members, will seek an amount not to exceed $115,000 pursuant to 15 U.S.C. §78u-4(a)(4) in connection with its representation of the Class. Filings related to fees and expenses, as well as the date of the hearing on fees and expenses, will be posted on this website and on Class Counsel’s website (www.rgrdlaw.com). Class Members with valid claims can file objections to the proposed fees or expenses up to 14 days before the hearing. Once available, more information on how to file an objection will be available on this website.

If you have questions regarding how to complete the Proof of Claim form or about the claims process, please email the Claims Administrator at [email protected] or call 1-866-880-1572. 

If you have questions concerning the Litigation, including the Notice of Verdict, please contact: 

Robbins Geller Rudman & Dowd LLP
Tor Gronborg ([email protected])
655 West Broadway, Suite 1900
San Diego, CA 92101
1-800-449-4900 

To object to any terms of the settlement, including attorneys’ fees and expenses, you must file an objection by March 21, 2022. You may file a written objection without having to appear at the Final Approval Hearing on April 11, 2022. You may not, however, appear at the Final Approval Hearing to present your objections unless you first submit a written objection in accordance with the procedures described below.

You may object to any terms of the settlement in writing by providing your full name, confirmation that you are a validated claimant (such as your claim number, which can be found here), the basis of your objection, and your signature. All written objections and supporting papers must: (a) clearly identify the case name and number (Hsu v. Puma Biotechnology, et al., Case No. 8:15-cv-00865); (b) be submitted to the Clerk of the Court, Ronald Reagan Federal Building and U.S. Courthouse, 411 West Fourth Street, Santa Ana, CA 92701 and to Class Counsel Tor Gronborg, Robbins Geller Rudman & Dowd LLP. 655 West Broadway, Suite 1900, San Diego, CA 92101; and (c) be submitted by no later than March 21, 2022.