Published
September 18, 2026
Investors who bought Eagle Pharmaceuticals (Nasdaq: EGRX) common stock between August 9, 2022 and October 1, 2024 may qualify to claim an estimated $0.76 per damaged share from the $9.5 million Eagle Pharmaceuticals securities class action settlement. The court approved the settlement on August 19, 2026; claims close October 16, 2026, and brokerage records are required.
Current Status
Claims are open and the settlement is already approved — an order that on most securities settlements arrives after the filing window shuts, not before it. The court entered judgment approving the settlement on August 19, 2026, following the settlement fairness hearing held that afternoon before the Honorable Michael A. Hammer in Newark. The Claim Form deadline is still ahead: forms must be postmarked or submitted online no later than October 16, 2026. The deadlines to exclude yourself or to object both expired on July 29, 2026, so a class member who did nothing is now bound by the release whether or not they ever file. No payment date has been announced, and none can be until the judgment becomes final, the time for any appeal runs out, and the administrator finishes processing claims. Anyone who traded Eagle stock inside the class period should pull their brokerage records now, because documentation is required for every transaction reported and filing is free.Free settlement alerts
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Status
Claims Open — Approved
judgment entered August 19, 2026 · no payment date announced
Claim Deadline
October 16, 2026
postmarked or submitted online · the exclusion and objection deadlines passed July 29, 2026
Estimated Payout
~$0.76 per share
estimate only · the notice estimates about $1.18 per allegedly damaged share before fees and about $0.42 a share in fees and expenses · payments are pro rata and nothing is distributed below $10
Proof Required
Yes
broker confirmation slips or account statements for every transaction and holding reported
What Changed Recently?
The settlement is now approved. The court granted final approval and entered judgment on August 19, 2026, the same day as the fairness hearing. That is the development that matters most to a class member who has not filed: nothing further stands between the settlement and distribution except the appeal period, claims processing, and the October 16 deadline.The case got there quickly by securities-litigation standards, because it settled before the pleadings were resolved. The complaint was filed December 11, 2023. The court appointed lead plaintiff and lead counsel on August 19, 2024. On October 2, 2024, Eagle filed a Form 8-K stating that its financial statements dating back to the quarter ended June 30, 2022 should no longer be relied upon and should be restated — the event that closed the class period the day before. The amended complaint followed on July 11, 2025, and the defendants moved to dismiss it on August 25, 2025.
That motion was never decided. The parties had mediated for a full day on April 29, 2025 without reaching agreement, but the mediator kept working with them, and on September 30, 2025 both sides accepted her double-blind proposal of $9,500,000. A term sheet followed on November 5, 2025. Before signing the long-form agreement the plaintiffs took informal discovery: between December 8, 2025 and January 29, 2026 the defendants produced roughly 115,000 pages, including accounting memos, customer contracts, board materials and documents on Pemfexy's shelf life, projected demand and customer inventories. The Stipulation was executed March 13, 2026, preliminary approval came in May 2026, and notice went out on June 18, 2026.
One small discrepancy is worth knowing if you are comparing documents: the settlement website dates preliminary approval to May 20, 2026, while paragraph 28 of the court-approved notice dates it to May 18, 2026. Nothing turns on it — neither date affects any deadline a class member has to meet.
None of this is a finding against anyone. The defendants have denied and continue to deny all allegations of fault, liability, wrongdoing or damages, and say they settled solely to eliminate the uncertainty, burden and expense of further litigation.
What the Case Alleged
The action claimed violations of Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5 against Eagle Pharmaceuticals, Inc. and two of its officers, Scott Tarriff and Brian Cahill, plus control-person claims under Section 20(a) against the two individuals.The amended complaint alleged that the defendants made materially misleading statements and omitted material facts about how much of Eagle's revenue came from sales of Pemfexy, its version of the cancer drug pemetrexed, in the second quarter of 2022, and about whether the company's internal controls over financial reporting were effective. It alleged that the share price was artificially inflated as a result, and fell when the truth emerged.
The defendants argued in their motion to dismiss that the complaint failed on every element that mattered: that it did not plead scienter, because it alleged no motive to defraud, leaned on unproven allegations from an unadjudicated complaint in another lawsuit, and identified nobody at Eagle who believed the accounting was wrong when it was issued; that it did not identify an actionable misstatement, because it never specified which internal controls were ineffective and the financial statements were honestly held opinions; and that it did not plead loss causation, because none of the cited disclosures revealed the alleged fraud.
The court never ruled on any of it. These are allegations that were never tested, all defendants deny them, and no court has found any defendant liable.
Who Qualifies?
The Settlement Class is all persons and entities who purchased the publicly traded common stock of Eagle Pharmaceuticals, Inc. between August 9, 2022 and October 1, 2024, both dates inclusive, and who were damaged thereby. Eagle common stock traded on the Nasdaq Global Market under EGRX during the class period; Nasdaq suspended trading on October 3, 2024, and the stock moved to the OTC Expert Market under the same ticker the next day.A few points decide most eligibility questions:
- Common stock only. The notice states plainly that the only security included in the settlement is publicly traded Eagle common stock. Option contracts are not eligible securities, and stock acquired by exercising, converting or exchanging non-publicly-traded Eagle securities does not qualify either.
- Buying is what puts you in the class, but holding is what pays. See the next section — a purchase inside the window with an early enough sale is worth nothing under the Plan of Allocation, even though the buyer is still a class member and still bound by the release.
- Shares received as a gift or by inheritance generally do not count as a purchase, unless the donor bought them in the class period, nobody else claimed on them, and the instrument of gift says so.
- Holdings inside an ERISA plan are left off your own Claim Form. Only shares you bought outside the plan go on it; claims on the plan's own purchases are for its trustees to make.
- Receiving the postcard notice does not mean you are a class member or that you will be paid. Nobody administering the settlement can see your trading history, which is why a Claim Form and documentation are required.
How Much Can You Get?
The settlement creates a $9,500,000 cash fund, deposited into an escrow account. Out of it come taxes on the fund's income, the costs of notice and administration, and any attorneys' fees and litigation expenses the court awards. What is left is the Net Settlement Fund, divided among claimants whose Claim Forms are found valid.The notice gives two per-share estimates, both assuming every eligible investor files. Before deductions, the estimated average recovery is about $1.18 per allegedly damaged share. If the court approved the full fee and expense application, the notice estimates the average cost at about $0.42 per eligible share — leaving roughly $0.76. Lead Counsel applied for fees of up to 33⅓% of the fund and reimbursement of litigation expenses of up to $185,000, a figure that could include up to $35,000 for the plaintiffs' own costs. Class members are not personally liable for any of it; whatever the court approved comes out of the fund.
Treat those numbers as what the notice says they are: averages across a hypothetical in which everybody files, not a per-share entitlement. Your actual payment turns on your Recognized Claim relative to everyone else's. Payments are strictly pro rata, so if total Recognized Claims exceed the Net Settlement Fund everyone is scaled down proportionally — and in practice not everyone files, which cuts the other way.
Two more limits shape the arithmetic. Nothing is distributed to a claimant whose calculated Distribution Amount comes to less than $10.00. And where a claimant has more than one purchase or sale, everything is matched first-in, first-out, with class-period sales matched first against whatever was held when the class period opened.
The Trap: You Had to Hold Through a Corrective Disclosure
Being inside the class period is not enough on its own, and this is the detail most likely to surprise an otherwise eligible investor.The Plan of Allocation compensates losses caused by disclosures that allegedly corrected the misstatements, and it identifies seven such dates: May 9, 2023; May 10, 2023; November 9, 2023; November 29, 2023; October 2, 2024; October 3, 2024; and October 4, 2024. To have any Recognized Loss Amount at all, the stock must have been bought during the class period and held through at least one of them. Anything sold before May 9, 2023 is assigned $0.00 — an investor who bought in late 2022 and sold at a real loss in March 2023 is a class member, is bound by the release, and recovers nothing here.
Where a claim does qualify, the amount is driven by a schedule of alleged per-share artificial inflation that steps down over time:
- August 9, 2022 to May 8, 2023 — $17.12 per share
- May 9, 2023 — $13.30
- May 10, 2023 to November 8, 2023 — $9.07
- November 9, 2023 to November 28, 2023 — $5.22
- November 29, 2023 to October 1, 2024 — $2.64
- October 2, 2024 — $1.23
- October 3, 2024 — $1.10
- October 4, 2024 onward — $0.00
One further limit catches people who traded actively. If your class-period transactions produced an overall market gain, your Recognized Claim is zero regardless of what the per-share formula produces. If they produced a market loss smaller than the calculated Recognized Claim, the claim is cut down to the actual loss. Short sales are assigned zero, and a short position has to be fully covered by later class-period purchases before any of those purchases can recover.
What Proof Is Required?
Documentation is mandatory for every transaction and holding you report, and it is the most common reason securities claims are delayed or rejected. The claim form calls for genuine and sufficient documentation, which the notice describes as broker confirmation slips, broker account statements, or an authorized statement from your broker carrying the same transactional and holding information.There is no notice ID, claim ID or PIN standing between you and the form. The online filing asks for your contact details, the last four digits of your Social Security number, the account number the securities were traded through, and your transaction detail with documents attached — so an eligible investor who never received a postcard can still file. A confirmation code arrives by email after you submit, not before, and it is worth keeping: it is how you refer back to the submission if a question comes up.
One mechanical warning that is easy to miss and expensive to learn the hard way: the online claim is not saved if you leave and come back. Have every statement and figure in front of you before you start. File a separate Claim Form for each account, and keep copies of everything you send, because claims may be audited and you could be asked for more information.
Banks, brokers and other nominees filing on behalf of clients do not use the public claim page at all — they file through the administrator's separate nominee system, and they have their own court-ordered obligations to pass the notice on to beneficial owners within seven calendar days, with documented costs reimbursable at rates the notice sets out.
What Is the Deadline?
The Claim Form must be submitted online or postmarked no later than October 16, 2026. A class member who misses it is forever barred from receiving a payment but stays a class member in every other respect — still bound by the judgment and still giving up the released claims.The other two dates are gone. Requests for exclusion had to be received or postmarked by July 29, 2026, and that was the only route that preserved the right to sue separately. Objections to the settlement, the Plan of Allocation or the fee and expense request were due the same day, as was any notice of intention to appear at the hearing. With the hearing held and judgment entered on August 19, 2026, none of those options remains available.
How Do You Take Action?
File the Claim Form on the official settlement website, Eagle Pharma Securities Settlement, administered by Epiq Class Action & Claims Solutions under the court's direction. The site carries the Stipulation, the long-form notice, the court's orders and a downloadable Claim Form for anyone who would rather file on paper. Filing is free and you do not need a lawyer.In practice that means pulling your brokerage records for the whole window — from the open on August 9, 2022 through the close of the look-back period on December 30, 2024 — before you start; listing every purchase and every sale chronologically, including the ones that made money; reporting what you held at the beginning and the end; and attaching the documentation. Transactions executed outside regular U.S. trading hours are treated as occurring in the next regular session, and purchases and sales count on the trade date rather than the settlement date.
What Happens Next?
The judgment entered on August 19, 2026 approved the settlement, but approval alone does not release money. The Net Settlement Fund is not distributed until the court has approved both the settlement and a plan of allocation and the time for any petition for rehearing, appeal or review has expired. Distribution follows after that, once claims processing is complete — a stage the notice itself asks class members to be patient about.There may be a second round. If money is left in the fund nine months after the initial distribution, and Lead Counsel and the administrator judge a further round cost-effective, the administrator re-distributes it to claimants who cashed their first checks and would receive at least $10.00. Further rounds can follow on the same test. Whatever finally remains when re-distribution stops being cost-effective goes to one or more non-sectarian, not-for-profit organizations recommended by Lead Counsel and approved by the court.
Sources and Verification
• Official settlement website, Claim Form and filing instructions — Eagle Pharma Securities Settlement, administered by Epiq Class Action & Claims Solutions, Inc.• Notice of (I) Pendency of Class Action, Certification of Settlement Class, Proposed Settlement and Plan of Allocation; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses, dated June 18, 2026 — the source for the class definition, the $9,500,000 fund, the per-share estimates, the deadlines, the Plan of Allocation and the inflation and look-back tables — embedded below
• The settlement website's Submit a Claim and Frequently Asked Questions pages, for the online filing requirements and the nominee filing route
• Stipulation and Agreement of Settlement dated March 13, 2026, available on the official settlement website
• Miller v. Eagle Pharmaceuticals, Inc., et al., No. 2:23-cv-23011-MAH, U.S. District Court for the District of New Jersey (Hon. Michael A. Hammer), for the procedural history and the August 19, 2026 judgment
• Lead Counsel's August 26, 2026 announcement of the approved settlement, and contemporaneous reporting of the judgment in the legal trade press
Questions
The settlement is already approved. Is it too late to file?
No. Final approval and the claim deadline are two different dates, and on this settlement the approval came first. The court entered judgment approving the settlement on August 19, 2026, but the Claim Form deadline is October 16, 2026, so the window is still open. What has closed is the chance to exclude yourself or object — both of those ran out on July 29, 2026.
I bought Eagle stock in the class period but sold it in early 2023. Do I get anything?
Not from a sale before May 9, 2023. The Plan of Allocation gives a Recognized Loss Amount of $0.00 to any share purchased during the class period and sold before that date, because the plan only compensates losses caused by the alleged corrective disclosures, and the first of those came on May 9, 2023. To recover anything you had to buy during the class period and still hold through at least one of the seven corrective disclosure dates.
Are options covered by this settlement?
No. The notice states that the only security included in the settlement is publicly traded Eagle common stock, and that option contracts are not eligible securities. There is one indirect route in: if you acquired or sold actual Eagle shares by exercising a publicly traded option, those shares count, with the exercise date as the trade date and the strike price as the purchase or sale price.
Is there a minimum payment?
Yes. The Net Settlement Fund is allocated only among Authorized Claimants whose Distribution Amount works out to $10.00 or more, and no distribution is made to anyone below that. The same $10.00 floor applies to any later re-distribution of money left in the fund after the first round of checks.
Why does my claim get reduced if I made money overall?
Because the plan caps your claim at your actual market loss. The administrator compares what you paid for all Eagle stock bought in the class period against your sale proceeds plus a $0.75-per-share holding value for shares still held at the end of it. If that comes out as an overall gain, your Recognized Claim is zero even if individual purchases show a loss. If it comes out as a loss smaller than your calculated Recognized Claim, the claim is cut down to the size of the real loss.
Did a court find that Eagle Pharmaceuticals did anything wrong?
No. The defendants have denied and continue to deny every allegation of fault, liability, wrongdoing or damages, and the notice states that the settlement may not be construed as an admission of any wrongdoing. The case never got past the pleading stage: the defendants' motion to dismiss the amended complaint was still undecided when the parties agreed to settle, so no court ever ruled on whether the claims had merit.
Official Settlement Notice
For more class actions keep scrolling below.
Settlement Amount
$9,500,000
all cash, held in an interest-bearing escrow account
Case Title
Miller v. Eagle Pharmaceuticals, Inc., et al.
Case Number
2:23-cv-23011-MAH
Court
U.S. District Court, District of New Jersey — Hon. Michael A. Hammer
Class Period
August 9, 2022 – October 1, 2024
both dates inclusive · publicly traded Eagle Pharmaceuticals common stock only (Nasdaq: EGRX), not options
Final Approval Hearing
Held August 19, 2026 — judgment entered the same day
Martin Luther King Building & U.S. Courthouse, Newark, New Jersey
Administrator
Epiq Class Action & Claims Solutions, Inc.
Official Website
Eagle Pharma Securities Settlement
