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On July 30, 2019, plaintiff Linda Rosi, or Rosi, filed a putative class action complaint captioned Rosi v.
−Removed: Aclaris Therapeutics, Inc., et al.
+Added: Aclaris Therapeutics, Inc.
District Court for the Southern District of New York against us and certain of our executive officers.
−Removed: The complaint alleges that the defendants violated federal securities laws by, among other things, failing to disclose an alleged likelihood that regulators would scrutinize advertising materials related to ESKATA (hydrogen peroxide) topical solution, 40% (w/w), or ESKATA, our non-marketed FDA-approved product, and find that the materials minimized the risks or overstated the efficacy of the product.
−Removed: The complaint seeks unspecified compensatory damages on behalf of Rosi and all other persons and entities that purchased or otherwise acquired our securities between May 8, 2018 and June 20, 2019.
+Added: The complaint alleged that the defendants violated federal securities laws by, among other things, failing to disclose an alleged likelihood that regulators would scrutinize advertising materials related to ESKATA (hydrogen peroxide) topical solution, 40% (w/w), or ESKATA, and find that the materials minimized the risks or overstated the efficacy of the product.
+Added: The complaint sought unspecified compensatory damages on behalf of Rosi and all other persons and entities that purchased or otherwise acquired our securities between May 8, 2018 and June 20, 2019.
On September 5, 2019, an additional plaintiff, Robert Fulcher, or Fulcher, filed a substantially identical putative class action complaint captioned Fulcher v.
4 unchanged sentences
The defendants filed a motion to dismiss the consolidated amended complaint on April 17, 2020.
−Removed: Fulcher filed an opposition to the defendants’ motion on June 15, 2020, and the defendants filed a reply to such opposition on August 4, 2020.
−Removed: Oral argument on the pending motion to dismiss is scheduled for February 25, 2021.
−Removed: The motion remains under judicial consideration.
−Removed: We and the other defendants dispute plaintiffs’ claims in the Consolidated Securities Action and intend to defend the matter vigorously.
+Added: Following briefing and oral argument on February 25, 2021, the motion was granted in part and denied in part on March 29, 2021, and the issues in dispute significantly narrowed.
+Added: The defendants filed an answer to the remaining aspects of the consolidated amended complaint on April 19, 2021.
+Added: In June 2021, the defendants and the plaintiffs agreed to settle the Consolidated Securities Action.
+Added: The parties signed and filed a settlement agreement in July 2021.
+Added: On August 18, 2021, the court preliminarily approved the proposed settlement, directed that notice be given to the putative class and scheduled the final approval settlement hearing for
+Added: November 30, 2021.
+Added: Notice was subsequently given to the putative class.
+Added: The court granted final approval of the settlement on December 9, 2021.
+Added: Our financial obligation was within the limits of our insurance coverage.
Stockholder Derivative Action
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Walker et al.
−Removed: District Court for the Southern District of New York against certain of our
−Removed: directors and executive officers.
−Removed: The complaint alleges that the defendants, among other things, breached their fiduciary duties as directors and/or officers in connection with the claims alleged in the Consolidated Securities Action.
−Removed: The complaint seeks, among other things, unspecified compensatory damages on behalf of our company.
+Added: District Court for the Southern District of New York against certain of our directors and executive officers.
+Added: The complaint alleged that the defendants, among other things, breached their fiduciary duties as directors and/or officers in connection with the claims alleged in the Consolidated Securities Action.
+Added: The complaint sought, among other things, unspecified compensatory damages on behalf of our company.
On November 25, 2019, an additional plaintiff, Bruce Brown, or Brown, filed a substantially identical complaint captioned Brown v.
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Thereafter, on January 11, 2020, the court stayed – subject to certain conditions – all deadlines in the Consolidated Derivative Action pending resolution of the defendants’ then-anticipated motion to dismiss the Consolidated Securities Action.
−Removed: The defendants dispute plaintiffs’ claims in the Consolidated Derivative Action and intend to defend the matter vigorously.
+Added: On May 18, 2021, the court extended the stay – subject to certain conditions – until the resolution of a motion for summary judgment in the Consolidated Securities Action, which defendants in that action intended to file had the parties to the Consolidated Securities Action not reached an agreement to settle.
+Added: In June 2021, the defendants and the plaintiffs agreed to settle the Consolidated Derivative Action.
+Added: The agreed terms require us to implement certain policies and for attorneys’ fees to be paid to plaintiff’s counsel, which were within the limits of our insurance coverage.
+Added: The parties signed and filed a settlement agreement in July 2021.
+Added: On August 18, 2021, the court preliminarily approved the proposed settlement, directed that notice be given to our stockholders and scheduled the final approval settlement hearing for November 30, 2021.
+Added: Notice was subsequently given to our stockholders.
+Added: The court granted final approval of the settlement on December 9, 2021.
Mine Safety Disclosures
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.