Company: SUPN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001356576-25-000071
Chunk: 284

Company: SUPERNUS PHARMACEUTICALS, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 284
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 Litigation pending the resolution of the motion to dismiss the amended complaint in the Securities Class Action. On June 20, 2025, Sage, along with other relevant parties, submitted for the Southern District of New York’s approval a consolidation of the Zhu Derivative Litigation with two other related derivative litigations (the “Consolidated Derivative Litigation”). 

Additionally, in July 2025, two purported stockholder of Sage each filed a complaint against Sage and each member of its Board of Directors in the Supreme Court of the State of New York, County of New York, (the first captioned Taylor v. Sage Therapeutics, Inc., et al., Index No. 654060/2025 (the “Taylor Complaint”) and the second captioned Morgan v. Sage Therapeutics, Inc., et al., Index No. 654094/2025 (together with the Taylor Complaint, the “Complaints”).

The Complaints assert, among other things, claims for negligent misrepresentation and concealment and negligence under New York common law against all defendants. The Complaints allege that the Schedule 14D-9 filed by SEC with the Securities and Exchange Commission in July 2025 omitted certain purportedly material information. Among other relief, the Complaints seek [(i) an injunction prohibiting consummation of the Transactions, (ii) rescission or actual and punitive damages if the Transactions are consummated, and (iii) an award of the plaintiffs’ fees and expenses, including reasonable attorneys’ and experts’ fees and expenses. Sage has also received certain demand letters from purported stockholders making allegations similar to those contained in the Complaints.

At this time, neither Parent nor Sage are able to predict the outcome of the Securities Class Action, the SEC investigation, the Consolidated Derivative Litigation, or the Complaints, or reasonably estimate a range of possible losses. If any of these matters are concluded in a manner adverse to Parent or any of its subsidiaries and for which the relevant entity incur substantial costs or damages not covered by liability insurance, such a conclusion could have a material adverse effect on our consolidated financial condition and business. In addition, any of these matters could adversely impact Parent or the relevant subsidiary’s reputation and divert management’s attention and resources from other priorities, including the execution of business plans and strategies that are important to our ability to grow our business, any of which could have a material adverse effect on our business.

Our future business prospects for ZURZUVAE® (zuran