Arena Securities Litigation


WELCOME TO THE Arena Securities Litigation Website

UPDATE: August 6, 2020

The distribution from the Net Settlement Fund was made to Authorized Claimants in the Arena Securities Litigation. If you have changed your address or if you have any questions regarding this distribution, please write to us using the information below. Please be sure to refer to your Claim Number in any communication.

Schueneman v. Arena Pharmaceuticals, Inc., et al., United States District Court, Southern District of California, Case No. 10-cv-1959-CAB-BLM.

This settlement (the “Settlement”) will provide $12,025,000 in cash, plus interest, and Arena common stock with a value of $11,975,000 (“Settlement Shares”) (Arena has the option to pay all or part of the Settlement Shares in cash at the time Arena is to issue the Settlement Shares), for a total settlement value of $24 million, to pay claims from investors who purchased Arena common stock from March 17, 2008 through January 27, 2011, inclusive (the “Class Period”), and were damaged thereby.

This website is not an expression of any opinion by the Court concerning the merits of any claim in the Action, and the Court still has to decide whether to approve the Settlement. If the Court approves the Settlement and a plan of allocation, then payments to Authorized Claimants will be made after any appeals are resolved and after the completion of all claims processing. Please be patient, as this process can take some time to complete.

BY April 13, 2018
The only way to possibly receive a payment from the Settlement.
BY February 12, 2018
You get no payment from the Settlement. This is the only option that might allow you to bring an individual lawsuit against the defendants asserting the legal claims being released in this case, if you have a valid and timely claim.
BY March 22, 2018
You may write to the Court if you do not like this Settlement, the Plan of Allocation, the Fee and Expense Award requested by Lead Counsel, and/or the award requested by Lead Plaintiff.
ON April 12, 2018
You may ask to speak in Court about the fairness of the Settlement.
DO NOTHING You get no payment and give up your rights relating to the claims described in the Notice.

Please consult the Notice for more details on your options.


Learn more about the Settlement by downloading the Notice in this case.

Claim Form

To participate in the Settlement, please submit a Proof of Claim and Release form (“Claim Form”):

For institutions filing on behalf of multiples beneficial owners:

Additional Information

If you have questions which are not answered by this website, please contact us at: 1-877-981-9683 or Arena Securities Litigation c/o GCG P.O. Box 10526 Dublin, Ohio 43017-0526