Robbins Geller Secures Additional $40 Million Recovery for Bioverativ Investors Following $84 Million Recovery in 2023

Robbins Geller Rudman & Dowd LLP secured another $40 million for Bioverativ, Inc. investors, resolving claims that one of the company’s directors and a hedge fund engaged in insider trading in connection with the sale of the company in 2018.

If approved, the $40 million recovery will be the first time shareholders have directly obtained a recovery based on insider trading under Delaware law, and the collective recovery of $124 million for Bioverativ shareholders in the litigation challenging the company’s sale will represent one of the largest recoveries ever in a challenge to a third-party, arm’s-length M&A transaction.

The Delaware Court of Chancery will hold a hearing in September 2024 to determine whether to approve the proposed settlement. More information about the settlement is available at www.bioverativstockholdersettlement.com.

The lead plaintiff, Dr. Goldstein, is represented by Robbins Geller attorneys Randall J. Baron, A. Rick Atwood, Jr., and Christopher H. Lyons, and co-counsel.

About Robbins Geller

Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud, antitrust, shareholder rights, consumer fraud, and privacy cases. With 200 lawyers in 10 offices, Robbins Geller is one of the world’s largest plaintiffs’ firms and the Firm’s attorneys have obtained many of the largest securities, antitrust, and consumer class action recoveries in history.

Over the last decade, our Firm has been ranked #1 on the ISS Securities Class Action Services law firm rankings for six out of the last ten years for securing the most monetary relief for investors. In the last four years, Robbins Geller recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm during that time. The Firm secured the largest-ever securities fraud class action settlement – $7.2 billion – in In re Enron Corp. Securities Litigation. 

For media inquiries, please contact media@rgrdlaw.com or call (619) 338-3821.

Goldstein v. Denner, C.A. No. 2020-1061-JTL (Del. Ch.).