Trius Therapeutics, Inc. Securities Litigation
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Welcome to the Trius Therapeutics, Inc. Securities Litigation Website

This website has been established to provide general information related to the proposed settlement of the Trius Therapeutics, Inc. ("Trius" or the "Company") Securities Litigation. The capitalized terms used on this website, and not defined herein, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated November 30, 2015, which can be found and downloaded by clicking on the Case Documents tab above. 

This is a securities class action currently pending before the Honorable Judith F. Hayes in the Superior Court of California, County of San Diego (the “Court”), and the consolidated action is known as Bemis v. Trius Therapeutics, Inc., et al., Lead Case No. 37-2013-00060593-CU-BT-CTL. The Court has appointed the law firm of Robbins Geller Rudman & Dowd LLP ("Robbins Geller") as Lead Counsel to represent the Plaintiffs and all other Class Members in the action.

In consideration for the full settlement and release of all Released Plaintiffs’ Claims (as defined in the Notice of Pendency of Class Action, Proposed Settlement of Class Action, Settlement Hearing and Right to Appear (the "Notice")), Defendants and their insurers will cause a total of Nine Million Four Hundred Thousand Dollars ($9,400,000.00) (the “Settlement Amount”) to be paid for the benefit of the Class.

Background and Description of the Litigation

On July 30, 2013, Trius announced that it had entered into a definitive merger agreement (the “Merger Agreement”) with Cubist, under which Cubist would commence a tender offer (the “Tender Offer”) to acquire all of the outstanding shares of Trius for $13.50 per share in cash and one Contingent Value Right, entitling the holder to receive an additional cash payment of up to $2.00 for each share they own if certain commercial sales milestones are achieved (the “Acquisition”).

Between August 1, 2013 and August 12, 2013, several putative class action complaints on behalf of Trius common stockholders were filed in this Court alleging, among other things, that the members of Trius’ Board of Directors breached their fiduciary duties in connection with the Acquisition, and that Cubist and Trius aided and abetted those breaches (the “Related Actions”). In addition, several actions alleging substantially the same claims on behalf of the same putative class of Trius common stockholders were filed in the Delaware Court of Chancery (the “Delaware Actions”).

On August 13, 2013, Cubist commenced the Tender Offer. On the same date, Trius filed a Schedule 14D-9 Solicitation/Recommendation Statement (the “14D-9”) with the United States Securities and Exchange Commission in connection with the Tender Offer.

On August 21, 2013, Plaintiffs filed a motion seeking consolidation of the Related Actions and the appointment of Robbins Geller as lead counsel.

On August 28, 2013, plaintiff Bemis filed an amended complaint which, among other things, included the allegations in the initial complaints in the Related Actions and added allegations that the Defendants violated their fiduciary duties by filing the 14D-9, which allegedly omitted or misrepresented material information.

On September 4, 2013, the Delaware Chancery Court consolidated the Delaware Actions (collectively, the “Consolidated Delaware Action”).

On September 11, 2013, Cubist consummated the Tender Offer and consummated the Acquisition.

On September 24, 2013, Defendants Trius and Cubist filed a motion for an order to stay proceedings (“Motion to Stay”), seeking a stay of the Related Actions in favor of the Consolidated Delaware Action.

On October 24, 2013, the Delaware plaintiffs filed a notice and proposed order of voluntary dismissal of the Consolidated Delaware Action without prejudice, which the Delaware Court of Chancery granted the same day. As a result, Defendants took their Motion to Stay off the Court’s calendar.

On February 28, 2014, Plaintiffs served their Consolidated Amended Class Action Complaint for Breaches of Fiduciary Duty and Violations of State Law (“Consolidated Complaint”) on Defendants and attempted to file and lodge it with the Court. The Court accepted the Consolidated Complaint on or around September 29, 2014.

During the period, from approximately September 2014 to June 2015, the Parties engaged in extensive fact discovery concerning the claims alleged in the Consolidated Complaint. The Parties and various non-parties produced approximately 244,550 pages of documents. The Parties completed 13 depositions. Plaintiffs pursued discovery from and served subpoenas on various third parties. The Parties also served and responded to special interrogatories. The Parties also began preparing to engage in expert discovery, including the designation of experts and exchange of initial expert witness lists.

On November 30, 2015, the Parties entered into the Stipulation setting forth the terms and conditions of the Settlement, subject to approval by the Court.

Additional Information

The Class is defined as all holders of Trius common stock who received consideration for their shares in the Acquisition at the price of $13.50 per share in cash and one Contingent Value Right per share, first announced on July 30, 2013.

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation, both of which can be found and downloaded from this website. We recommend that you read the Notice and other relevant case documents carefully.

Important Dates and Deadlines

Submit a Claim Form November 7, 2016
Exclude Yourself October 14, 2016
Object October 14, 2016
Settlement Hearing October 28, 2016 at 10:30 a.m.