Shareholder Class Action Filed Against Clovis Oncology, Inc.

Notice is hereby given that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired the securities of Clovis Oncology, Inc. (“Clovis”) (Nasdaq: CLVS) between October 31, 2013 and November 15, 2015, inclusive (the “Class Period”).

Clovis investors may receive additional information about the case by clicking the link "Join this Class Action" above. 

According to the complaint, Clovis is a biopharmaceutical company that focuses on acquiring, developing, and commercializing innovative anti-cancer agents in the United States, Europe and other international markets.

The complaint alleges that, throughout the Class Period, Clovis and certain of its executive officers made a series of false and/or misleading statements, and failed to disclose material adverse facts about the Company’s business, operations, and prospects.  Specifically, the defendants are alleged to have made false and/or misleading statements and/or failed to disclose the following: (1) that the New Drug Application (“NDA”) that Clovis submitted to the FDA for rociletinib contained immature data sets based on both unconfirmed response rates and confirmed response rates; (2) that Clovis’ Breakthrough Therapy designation submission contained immature data set based primarily on unconfirmed responses; (3) that Clovis presented interim data publicly and at medical meetings that included a data set based primarily on unconfirmed responses; (4) that as the efficacy data matured, the number of patients with an unconfirmed response who converted to a confirmed response was lower than expected; (5) that, as a result of the foregoing, Clovis’ NDA was likely to be delayed and/or rejected by the FDA; and (6) that, as a result of the foregoing, the Defendants’ statements about Clovis’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

The Class Period Begins on October 31, 2013, when Clovis’ Chief Executive Officer (“CEO”) reported that, due to “encouraging results we’ve seen for CO-1686 to date, we look forward to  dentifying the Phase 2 dose with our improved HBr formulation by the end of 2013, and then commencing our initial registration study in the first half of 2014.”  During the Class Period, Clovis’ common stock traded as high as $114 per share.

On November 16, 2015, Clovis issued a press release disclosing that the FDA had requested additional clinical data after the efficacy of one of the Company’s drugs, rociletinib (or “CO-1686”), was thrown into doubt.  Following this news, shares of Clovis’ common stock fell $69.19 per share, or nearly 70%, to close on November 16, 2015 at $30.24 per share, on unusually heavy trading volume.

If you are a member of the class described above, you may no later than January 19, 2016, move the Court to serve as lead plaintiff of the class, if you so choose.

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If 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.


Kessler Topaz Meltzer & Check, LLP
James Maro, Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087

1-888-299-7706 (toll free) or 1-610-667-7706

Please list your purchase and sale transaction(s) in the Clovis Oncology, Inc. (Nasdaq: CLVS)  security that is subject of this action between October 31, 2013 and November 15, 2015:

Information Sheet
* Denotes required field
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of Clovis Oncology, Inc. prior to the class period?
Area you a current or former employee of Clovis Oncology, Inc.?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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