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Contingencies
6 Months Ended
Jun. 30, 2013
Contingencies  
Contingencies

11.       Contingencies

 

In April 2013, the Company entered into a contingent new 15 year facility lease agreement for approximately 190,000 square feet of laboratory and office space in Wilmington, Delaware. The lease agreement is conditioned on a number of contingencies that must be resolved prior to the lease agreement becoming effective, including the landlord’s ability to design the build-out of the facility based on a targeted construction budget and the landlord’s ability to secure funding for its obligations in connection with the build-out of the facility. Should the lease agreement become effective, the Company expects the facility to be available for occupancy in 2014.

 

In March and April 2013, two lawsuits were filed in the United States District Court for the District of Delaware against the Company, its chief executive officer, its former chief commercial officer, and its chief drug development and medical officer. The complaints each allege violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of a purported class of purchasers of the Company’s stock between April 26, 2012 and August 1, 2012. In general, the complaints allege that the defendants issued materially false or misleading statements concerning the Company’s business and prospects relating to the commercial launch of JAKAFI. The complaints seek damages in an unspecified amount, equitable relief of an unspecified nature, and costs and expenses of litigation. The Company believes it has meritorious defenses and intends to vigorously defend itself against these lawsuits. The Company is unable to estimate the possible loss or range of loss, if any, at this time.