Search

Attributes

This case was last updated from PACER on 05/15/2021 at 09:05:27 (UTC).

Cachia v. BELLUS Health Inc. et al

Case Summary

On March 16, 2021, Carl D. Cachia (“Plaintiff”) represented by Constantine Philip Economides of Roche Freedman LLP individually and on behalf of all others similarly situated filed a class action lawsuit against BELLUS Health Inc. (“BELLUS” or the “Company”), Roberto Bellini (“Bellini”), and François Desjardins (“Desjardins”) (collectively, “Defendants”), seeking compensatory damages, injunctive relief among other reliefs for alleged misleading statements and omissions by Defendants. This case was filed in U.S. District Court in the Southern District of New York with Judge George B. Daniels presiding

 

Pursuant to Federal Rule of Civil Procedure 23(b)(3), the Plaintiffs asserted to have filed the claim on behalf of of all persons and entities who purchased or otherwise acquired BELLUS securities between September 5, 2019 and July 5, 2020, inclusive (the “Class Period”), and were damaged thereby.

 

Plaintiff in its complaint alleged that “Although it was behind Merck in the clinical development process, BELLUS’s sole drug product, BLU-5937, uses a similar mechanism to treat chronic cough in that both work by blocking P2X3 receptors. Throughout the Class Period, Defendants touted that because BLU- 5937 was more selective than Gefapixant, it would come with a better safety profile and would not have the side effects of taste alteration or loss of taste. As a result, Defendants misled investors into believing that the Phase 2 study for Bellus’s BLU-5937 would demonstrate the same level of efficacy as, but a higher level of safety than, Merck’s Gefapixant” and that “Defendants knew, but failed to disclose, that BLU-5937 had a much higher risk of failing to demonstrate efficacy for chronic cough. Accordingly, despite Merck’s successful Phase

2 study, BLU-5937 had a high risk of failing its Phase 2 study.”

 

Plaintiff further alleged that “In short, Defendants’ scheme: (i) deceived the investing public regarding BELLUS’s business, operations, drug products, drug product development, competition, and present and future business prospects; (ii) facilitated the Company’s September 2019 public offering (“Offering”); (iii) created artificial demand for the BELLUS common shares sold in the Offering; (iv) enabled the Company to receive approximately $70 million in net proceeds from the sale of BELLUS common stock in the Offering; and (v) caused Plaintiff and the Class to purchase BELLUS publicly traded common stock at artificially inflated prices.”

 

Plaintiff even further alleged that “Defendants had actual knowledge of the misrepresentations and/or omissions of material facts set forth herein, or acted with reckless disregard for the truth in that they failed to ascertain and to disclose such facts, even though such facts were available to them. Such Defendants’ material misrepresentations and/or omissions were done knowingly or recklessly and for the purpose and effect of concealing BELLUS’s financial well-being and prospects from the investing public and supporting the artificially inflated price of its securities.”



There are two claims for relief laid down by the Plaintiff. The first claim is for the alleged violation of § 10(b) of The Exchange Act and Rule 10b-5 Promulgated Thereunder and the second claim of relief is for the alleged violation of § 20(a) of The Exchange Act.

 

In its prayer for relief, the Plaintiff requested the court to pass an order to define the class as requested and to certify this as a class action in accordance with Federal Rule of Civil Procedure 23, award compensatory damages to Plaintiff along with costs of litigation.  

 

This case summary may not reflect the current position of the parties to this litigation or the status of this case. Sign up to view the latest case updates and court documents.

 

Case Details Parties Documents Dockets

 

Case Details

  • Case Number:

    1:21-CV-02278

  • Filing Date:

    03/16/2021

  • Case Status:

    Pending - Other Pending

  • Case Type:

    Finance - Security/Commodity/Exchange

  • Court:

    U.S. District Courts

  • Courthouse:

    New York Southern District

Judge Details

Presiding Judge

George B. Daniels

 

Party Details

Plaintiff

Carl D. Cachia

Defendants

BELLUS Health Inc.

Roberto Bellini

Francois Desjardis

Attorney/Law Firm Details

Plaintiff Attorney

Constantine Philip Economides

Attorney at Roche Freedman LLP

200 S. Biscayne Blvd., Suite 5500

Miami, FL 33131

Defendant Attorneys

Tucker DeVoe

Attorney at Goodwin Procter LLP

100 Northern Avenue

Boston, MA 02210

Caroline Herman Bullerjahn

Attorney at Goodwin Procter, LLP (Boston)

100 Northern Avenue

Boston, MA 02210

 

Court Documents

#15

(#15) LETTER addressed to Judge George B. Daniels from Caroline H. Bullerjahn dated May 12, 2021 re: Request for Adjournment of the June 3, 2021 initial pretrial conference. Document filed by BELLUS Health Inc., Roberto Bellini, Francois Desjardis..(Bullerjahn, Caroline) (Entered: 05/12/2021)

#14

(#14) ORDER ADMITTING COUNSEL PRO HAC VICE granting #13 Motion for Tucker DeVoe to Appear Pro Hac Vice. (Signed by Judge George B. Daniels on 4/28/2021) (mro) (Entered: 04/28/2021)

#12

(#12) STIPULATION AND ORDER REGARDING SERVICE OF COMPLAINT AND TIME TO RESPOND TO COMPLAINT: IT IS HEREBY STIPULATED AND AGREED among the Parties. subject to the Court's approval, as follows: 1. Defendants shall not be required to answer, move to dismiss, or otherwise respond to the Initial Complaint until after a lead plaintiff has been appointed and lead plaintiff has filed an amended complaint (if any); 2. Within fourteen (14) days after the Court's entry of an Order appointing lead plaintiff, counsel for Defendants and counsel for lead plaintiff shall meet and confer regarding scheduling and shall submit a stipulation for the Court's approval with the Parties' proposed schedule for the filing of an amended complaint (if any) and the filing of a motion to dismiss or other response to the amended complaint. IT IS SO ORDERED. (Signed by Judge George B. Daniels on 4/15/2021) (kv) (Entered: 04/15/2021)

#11

(#11) PROPOSED STIPULATION AND ORDER. Document filed by BELLUS Health Inc., Roberto Bellini, Francois Desjardis..(Bullerjahn, Caroline) (Entered: 04/14/2021)

#10

(#10) RULE 7.1 CORPORATE DISCLOSURE STATEMENT. No Corporate Parent. Document filed by BELLUS Health Inc...(Bullerjahn, Caroline) (Entered: 04/14/2021)

#9

(#9) NOTICE OF APPEARANCE by Caroline Herman Bullerjahn on behalf of BELLUS Health Inc., Roberto Bellini, Francois Desjardis..(Bullerjahn, Caroline) (Entered: 04/14/2021)

#8

(#8) AFFIDAVIT OF SERVICE of Summons and Complaint. Francois Desjardis served on 3/23/2021, answer due 4/13/2021. Service was accepted by Ami Pineda, Service of Process Intake Clerk. Document filed by Carl D. Cachia..(Economides, Constantine) (Entered: 04/09/2021)

#7

(#7) AFFIDAVIT OF SERVICE of Summons and Complaint. Roberto Bellini served on 3/23/2021, answer due 4/13/2021. Service was accepted by Ami Pineda, Service of Process Intake Clerk. Document filed by Carl D. Cachia..(Economides, Constantine) (Entered: 04/09/2021)

#6

(#6) AFFIDAVIT OF SERVICE of Summons and Complaint. BELLUS Health Inc. served on 3/23/2021, answer due 4/13/2021. Service was accepted by Ami Pineda, Service of Process Intake Clerk. Document filed by Carl D. Cachia..(Economides, Constantine) (Entered: 04/09/2021)

#5

(#5) ELECTRONIC SUMMONS ISSUED as to BELLUS Health Inc., Roberto Bellini, Francois Desjardis..(jgo) (Entered: 03/18/2021)

#4

(#4) INITIAL PRETRIAL CONFERENCE: Initial Conference set for 6/3/2021 at 09:30 AM in Courtroom 11A, 500 Pearl Street, New York, NY 10007 before Judge George B. Daniels. SO ORDERED. (Signed by Judge George B. Daniels on 3/17/2021) (rj) (Entered: 03/18/2021)

#3

(#3) REQUEST FOR ISSUANCE OF SUMMONS as to BELLUS Health Inc., Roberto Bellini and Francois Desjardis, re: #1 Complaint. Document filed by Carl D. Cachia..(Economides, Constantine) (Entered: 03/17/2021)

#2

(#2) CIVIL COVER SHEET filed..(Economides, Constantine) (Entered: 03/16/2021)

#1

(#3) REQUEST FOR ISSUANCE OF SUMMONS as to BELLUS Health Inc., Roberto Bellini and Francois Desjardis, re: #1 Complaint. Document filed by Carl D. Cachia..(Economides, Constantine) (Entered: 03/17/2021)

3 More Documents Available
View All Documents

 

Docket Entries

  • 05/12/2021
  • View Court Documents
  • Docket(#15) LETTER addressed to Judge George B. Daniels from Caroline H. Bullerjahn dated May 12, 2021 re: Request for Adjournment of the June 3, 2021 initial pretrial conference. Document filed by BELLUS Health Inc., Roberto Bellini, Francois Desjardis..(Bullerjahn, Caroline) (Entered: 05/12/2021)

    Read MoreRead Less
  • 04/28/2021
  • View Court Documents
  • Docket(#14) ORDER ADMITTING COUNSEL PRO HAC VICE granting #13 Motion for Tucker DeVoe to Appear Pro Hac Vice. (Signed by Judge George B. Daniels on 4/28/2021) (mro) (Entered: 04/28/2021)

    Read MoreRead Less
  • 04/27/2021
  • View Court Documents
  • Docket>>>NOTICE REGARDING PRO HAC VICE MOTION. Regarding Document No. #13 MOTION for Tucker DeVoe to Appear Pro Hac Vice . Filing fee $ 200.00, receipt number ANYSDC-24458790. Motion and supporting papers to be reviewed by Clerk's Office staff.. The document has been reviewed and there are no deficiencies. (wb) (Entered: 04/27/2021)

    Read MoreRead Less
  • 04/27/2021
  • View Court Documents
  • Docket(#13) MOTION for Tucker DeVoe to Appear Pro Hac Vice . Filing fee $ 200.00, receipt number ANYSDC-24458790. Motion and supporting papers to be reviewed by Clerk's Office staff. Document filed by BELLUS Health Inc., Roberto Bellini, Francois Desjardis. (Attachments: #1 Declaration of Tucker DeVoe, #2 Text of Proposed Order).(DeVoe, Tucker) (Entered: 04/27/2021)

    Read MoreRead Less
  • 04/15/2021
  • View Court Documents
  • Docket(#12) STIPULATION AND ORDER REGARDING SERVICE OF COMPLAINT AND TIME TO RESPOND TO COMPLAINT: IT IS HEREBY STIPULATED AND AGREED among the Parties. subject to the Court's approval, as follows: 1. Defendants shall not be required to answer, move to dismiss, or otherwise respond to the Initial Complaint until after a lead plaintiff has been appointed and lead plaintiff has filed an amended complaint (if any); 2. Within fourteen (14) days after the Court's entry of an Order appointing lead plaintiff, counsel for Defendants and counsel for lead plaintiff shall meet and confer regarding scheduling and shall submit a stipulation for the Court's approval with the Parties' proposed schedule for the filing of an amended complaint (if any) and the filing of a motion to dismiss or other response to the amended complaint. IT IS SO ORDERED. (Signed by Judge George B. Daniels on 4/15/2021) (kv) (Entered: 04/15/2021)

    Read MoreRead Less
  • 04/14/2021
  • View Court Documents
  • Docket(#11) PROPOSED STIPULATION AND ORDER. Document filed by BELLUS Health Inc., Roberto Bellini, Francois Desjardis..(Bullerjahn, Caroline) (Entered: 04/14/2021)

    Read MoreRead Less
  • 04/14/2021
  • View Court Documents
  • Docket(#10) RULE 7.1 CORPORATE DISCLOSURE STATEMENT. No Corporate Parent. Document filed by BELLUS Health Inc...(Bullerjahn, Caroline) (Entered: 04/14/2021)

    Read MoreRead Less
  • 04/14/2021
  • View Court Documents
  • Docket(#9) NOTICE OF APPEARANCE by Caroline Herman Bullerjahn on behalf of BELLUS Health Inc., Roberto Bellini, Francois Desjardis..(Bullerjahn, Caroline) (Entered: 04/14/2021)

    Read MoreRead Less
  • 04/09/2021
  • View Court Documents
  • Docket(#8) AFFIDAVIT OF SERVICE of Summons and Complaint. Francois Desjardis served on 3/23/2021, answer due 4/13/2021. Service was accepted by Ami Pineda, Service of Process Intake Clerk. Document filed by Carl D. Cachia..(Economides, Constantine) (Entered: 04/09/2021)

    Read MoreRead Less
  • 04/09/2021
  • View Court Documents
  • Docket(#7) AFFIDAVIT OF SERVICE of Summons and Complaint. Roberto Bellini served on 3/23/2021, answer due 4/13/2021. Service was accepted by Ami Pineda, Service of Process Intake Clerk. Document filed by Carl D. Cachia..(Economides, Constantine) (Entered: 04/09/2021)

    Read MoreRead Less
  • 04/09/2021
  • View Court Documents
  • Docket(#6) AFFIDAVIT OF SERVICE of Summons and Complaint. BELLUS Health Inc. served on 3/23/2021, answer due 4/13/2021. Service was accepted by Ami Pineda, Service of Process Intake Clerk. Document filed by Carl D. Cachia..(Economides, Constantine) (Entered: 04/09/2021)

    Read MoreRead Less
  • 03/18/2021
  • View Court Documents
  • Docket(#5) ELECTRONIC SUMMONS ISSUED as to BELLUS Health Inc., Roberto Bellini, Francois Desjardis..(jgo) (Entered: 03/18/2021)

    Read MoreRead Less
  • 03/18/2021
  • View Court Documents
  • Docket(#4) INITIAL PRETRIAL CONFERENCE: Initial Conference set for 6/3/2021 at 09:30 AM in Courtroom 11A, 500 Pearl Street, New York, NY 10007 before Judge George B. Daniels. SO ORDERED. (Signed by Judge George B. Daniels on 3/17/2021) (rj) (Entered: 03/18/2021)

    Read MoreRead Less
  • 03/17/2021
  • View Court Documents
  • Docket(#3) REQUEST FOR ISSUANCE OF SUMMONS as to BELLUS Health Inc., Roberto Bellini and Francois Desjardis, re: #1 Complaint. Document filed by Carl D. Cachia..(Economides, Constantine) (Entered: 03/17/2021)

    Read MoreRead Less
  • 03/17/2021
  • DocketCase Designated ECF. (pc) (Entered: 03/17/2021)

    Read MoreRead Less
  • 03/17/2021
  • DocketMagistrate Judge Sarah L. Cave is so designated. Pursuant to 28 U.S.C. Section 636(c) and Fed. R. Civ. P. 73(b)(1) parties are notified that they may consent to proceed before a United States Magistrate Judge. Parties who wish to consent may access the necessary form at the following link: #https://nysd.uscourts.gov/sites/default/files/2018-06/AO-3.pdf. (pc) (Entered: 03/17/2021)

    Read MoreRead Less
  • 03/17/2021
  • DocketCASE OPENING INITIAL ASSIGNMENT NOTICE: The above-entitled action is assigned to Judge George B. Daniels. Please download and review the Individual Practices of the assigned District Judge, located at #https://nysd.uscourts.gov/judges/district-judges. Attorneys are responsible for providing courtesy copies to judges where their Individual Practices require such. Please download and review the ECF Rules and Instructions, located at #https://nysd.uscourts.gov/rules/ecf-related-instructions..(pc) (Entered: 03/17/2021)

    Read MoreRead Less
  • 03/17/2021
  • Docket***NOTICE TO ATTORNEY REGARDING PARTY MODIFICATION. Notice to attorney Constantine Philip Economides. The party information for the following party/parties has been modified: Carl D. Cachia. The information for the party/parties has been modified for the following reason/reasons: party text was omitted;. (pc) (Entered: 03/17/2021)

    Read MoreRead Less
  • 03/16/2021
  • View Court Documents
  • Docket(#2) CIVIL COVER SHEET filed..(Economides, Constantine) (Entered: 03/16/2021)

    Read MoreRead Less
  • 03/16/2021
  • View Court Documents
  • Docket(#1) COMPLAINT against BELLUS Health Inc., Roberto Bellini, Francois Desjardis. (Filing Fee $ 402.00, Receipt Number ANYSDC-24260484)Document filed by Carl D. Cachia..(Economides, Constantine) (Entered: 03/16/2021)

    Read MoreRead Less
related-case-search

Dig Deeper

Get Deeper Insights on Court Cases


Latest cases represented by Lawyer Constantine Philip Economides