In Re Delcath Systems, Inc. Securities Litigation

Welcome to the In Re Delcath Systems, Inc. Securities Litigation Settlement

The purpose of this website is to inform you about a Court approved Settlement of the following class action lawsuit: In re Delcath Systems, Inc. Securities Litigation, 13 Civ. 3116 (LGS) and about your legal rights and options in connection with the Settlement. This website explains the Action, the Court approved Settlement, your legal rights, what benefits are available, who may be eligible for those benefits, and how to get them.

The In re Delcath Systems, Inc. Securities Litigation resolves a lawsuit alleging that Defendants failed to disclose certain details relating to the results of the clinical trials and the specifications of the Company’s New Drug Application (“NDA”). Specifically, Lead Plaintiffs claimed that Defendants failed to disclose that: (i) the Melblez Kit resulted in the deaths of 7% of patients treated versus zero deaths in the best alternative care (non-drug) group, (ii) nearly 24% of the patients treated with the Melblez Kit suffered from serious adverse events (“SAEs”), and (iii) the Company refiled its NDA with a different filter without having performed clinical trials. Lead Plaintiffs also challenge Defendants’ statements about Delcath’s NDA for the approval of the Melblez Kit, the FDA approval process, and certain other allegedly misleading statements.

The Complaint further asserted that investors did not learn about the comparative safety data until the FDA Staff posted its “Briefing Book” on April 30, 2013, in advance of a FDA Advisory Committee Meeting to consider Delcath’s NDA for approval to market the Melblez Kit. Following the posting of the Briefing Book, Delcath’s shares fell from $1.39 to $0.83. Shortly thereafter, on May 2, 2013, the FDA Advisory Committee voted unanimously to reject Delcath’s application.

The Court approved the Settlement on October 22nd 2015. The Settlement provides a $8,500,000 cash settlement fund to settle claims on behalf of all Persons who purchased or otherwise acquired Delcath common stock between (i) April 21, 2010 and April 29, 2013, and continued to hold as of the end of trading on April 29, 2013; and (ii) April 30, 2013 through May 2, 2013 and held as of the end of trading on May 2, 2013.

Please be sure to review the Notice to fully understand your rights. If you are a member of the Class, your legal rights will be affected whether you act or do not act.