Onyx Pharmaceuticals, Inc.

In re Onyx Pharmaceuticals, Inc. Shareholder Litigation, Case No. CIV523789 (Cal. Sup.)

This class action alleged that Defendants breached their fiduciary duties of loyalty, good faith and full disclosure owed to the shareholders of Onyx in connection with the sale of Onyx to Amgen by failing to take steps to maximize the value of Onyx stock, failing to appropriately protect shareholders from the multiple conflicts of interest at play with Onyx’s Board, agreeing to unreasonably preclusive deal protection provisions, and failing to fully disclose all material facts related to the Acquisition.

After successfully defeating defendants’ motions to dismiss and certifying the class, the parties entered into a settlement of $30 million. At the tiem the settlement was reached, it was the largest M&A settlement in California state court history.

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Lead Plaintiff deadline
class period
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Case Documents
Class Member Questionnaire
Instructions to Return Questionnaire


Settlement Agreement - July 27, 2020

Motion for Preliminary Approval - July 27, 2020

Order Granting Class Certification - April 22, 2020

Second Amended Complaint - February 6, 2019

Order Denying Defendants' Motions to Dismiss - July 9, 2018

Amended Complaint - February 28, 2018

Spanish Translated Documents

Order Granting Class Certification

Order Denying Defendants' Motions to Dismiss