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Stock Market & Financial Investment News

News Breaks
March 22, 2013
09:04 EDTFLMLJudge dismisses 2007 class action case against Flamel Technologies
Flamel Technologies announced that Judge Robert Sweet of the United States District Court for the Southern District of New York issued a summary judgment on March 8 dismissing a class action suit against the company, and its former CEO. The initial class action was filed in 2007 and, during the six year period, had two different plaintiffs. The case, Billhofer v. Flamel Technologies, et al., alleged claims arising under the Securities Exchange Act of 1934 based on certain public statements by the company concerning, among other things, Coreg CR. The Company previously stated that it intended to vigorously defend itself in the action. In dismissing the case, Judge Sweet's opinion states that "as there is no genuine issue of fact and no reasonable jury could find in the lead plaintiff's favor on his claim, the motion for summary judgment is granted."
News For FLML From The Last 14 Days
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July 22, 2015
08:31 EDTFLMLFlamel to begin U.S. public company reporting status in FY16
Flamel announced that as of June 30, it has determined that it no longer satisfies the definition of a "foreign private issuer" under the rules and regulations of the SEC. The company made the determination based on the fact that the proportion of its voting securities currently held by U.S residents is approximately 80% or greater and a majority of its executive officers are U.S. citizens or residents. As a result, beginning on January 1, 2016, the company will be filing Annual Reports on Form 10-K, commencing with the annual report to be filed for the year ended December 31, 2015, Current Reports on Form 8-K, Quarterly Reports on Form 10-Q as well as proxy statements with respect to meetings of shareholders, with the SEC as if it were a fully domestic U.S. company.

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