Quinn Emanuel has achieved a nine-figure trial victory on behalf of our client, Shareholder Representative Services, LLC

Quinn Emanuel is pleased to announce a nine-figure trial victory on behalf of our client, Shareholder Representative Services, LLC.  Under the leadership of Partners Andrew Berdon, Courtney Whang, and Joe Paunovich, the firm successfully obtained judgment in a contract dispute related to the 2018 acquisition of Syntimmune, Inc. by Alexion Pharmaceuticals. The dispute involved Alexion’s development of a novel antibody targeting the treatment of autoimmune and rare diseases called ALXN1830 and Alexion's contractual obligations following the acquisition.

In the September 5, 2024 decision, Vice Chancellor Morgan T. Zurn held Alexion liable for breach of contract and issued judgment for $130 million to compensate former Syntimmune shareholders for Alexion’s failure to make a contractually-mandated milestone payment triggered by the successful completion of a clinical trial conducted by Alexion.  The Court also found that Alexion breached a contractual requirement that it exercise "commercially reasonable efforts" to further develop and bring the drug to market, finding that Alexion prematurely terminated the development of ALXN1830 following its 2021 acquisition by AstraZeneca.  Vice Chancellor Zurn will issue a future opinion addressing potential damages owed by Alexion for its premature termination of the ALXN1830 program.  The Court’s decision, articulated in a comprehensive 139-page opinion, marks a significant development in the pharmaceutical and M&A litigation space.

In addition to partners Andrew Berdon, Courtney Whang and Joe Paunovich, the QE trial team included partners Michael Barlow, David Elihu and Angus Chen, of counsel Alexee Conroy and Jimmy Bieber, and associates Andrew Brayton, Allison Silber, Jack Furness, and Andrew Shifren.