Case Background:
This is a federal securities fraud class action lawsuit on behalf of all persons and entities that purchased or otherwise acquired Celgene Corporation (“Celgene” or the “Company”) common stock between April 27, 2017 and April 27, 2018, inclusive (the “Class Period”).
The complaint alleges that Defendants knew, or recklessly disregarded, but failed to disclose, that GED-0301, a late-stage developmental treatment for Crohn's disease, had not shown meaningful or sustained efficacy through the interim endoscopy trial, and the phase III trial had a materially greater likelihood of failure than publicly disclosed. Company executives claimed, among other things, that GED-0301 continued to show transformative promise, that the Company's 2020 guidance would be met or exceeded, and that Celgene would be able to develop the revenue streams necessary to continue the Company's growth. As a result of Defendants' wrongful acts and omissions, Plaintiff and the Class purchased Celgene common stock at artificially inflated prices. However, after the revelations entered the market, the price of the Company's stock plummeted more than 40% below its Class Period high, causing economic harm and damages to Plaintiff and the Class, and billions of dollars in lost market capitalization for the Company.
Current Status of Case:
On August 29, 2025, Plaintiffs filed the Amended Complaint. This action is ongoing. For additional information about this action, please go to: https://www.ktmc.com/featured-case/celgene-corp-inc
f you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.