In re Actinium Pharmaceuticals, Inc. Securities Litifation
- James Oetken
- 1:25-cv-02553
- U.S. District Court · Southern District of New York
- 6
In re Actinium Pharmaceuticals Securities Litigation: Judge Oetken appointed co-lead plaintiffs and counsel and consolidated related actions.
Nitin Kohli, the Handel Family Limited Partnership, Stanley Handel, their selected counsel, the proposed investor class, Actinium Pharmaceuticals, Inc., and the individual defendants are affected by the leadership and consolidation orders. The order does not decide the defendants’ liability.
What happened
In re Actinium Pharmaceuticals, Inc. Securities Litigation is a securities class action alleging that Actinium Pharmaceuticals, Inc. and certain officers and board members violated federal securities laws. Nitin Kohli and the Handel Family Limited Partnership and Stanley Handel separately sought appointment as lead plaintiff.
The court granted both motions, appointed Kohli and the Handel Family as lead plaintiffs, and appointed Scott+Scott and The Rosen Law Firm as lead counsel. It also consolidated related actions and directed that the case use the caption “In re Actinium Pharmaceuticals, Inc. Securities Litigation.”
Judge J. Paul Oetken entered the order on June 24, 2025. The order selected litigation leadership and handled case administration; it did not decide whether the alleged securities violations occurred.
The detailed version
- In re Actinium Pharmaceuticals, Inc. Securities Litifation · No. 1:25-cv-02553
- James Oetken
- June 24, 2025
Background
The complaint alleges that Actinium Pharmaceuticals, Inc. and certain company officers and board members defrauded investors in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Securities and Exchange Commission Rule 10b-5. The matter is brought as a class action.
Under the Private Securities Litigation Reform Act, investors could seek appointment as lead plaintiff. Nitin Kohli timely moved for appointment and proposed Scott+Scott Attorneys at Law LLP as lead counsel. The Handel Family Limited Partnership and Stanley Handel also timely moved for appointment and proposed The Rosen Law Firm, P.A. as lead counsel.
The parties stipulated that Kohli and the Handel Family had the largest financial interest in the relief sought and satisfied the relevant requirements of Rule 23 of the Federal Rules of Civil Procedure. They also agreed that working together would avoid a prolonged dispute over leadership and would benefit the proposed class. The opinion describes Kohli and the Handel Family as sophisticated investors and states that both committed to supervising counsel and avoiding duplicated work.
Rulings
The court approved the stipulation and:
- Granted Kohli’s motion to appoint him as lead plaintiff and the Handel Family’s motion to appoint it and Stanley Handel as lead plaintiff. - Appointed Kohli and the Handel Family as lead plaintiffs under the Securities Litigation Reform Act. - Appointed Scott+Scott and The Rosen Law Firm as lead counsel. - Ordered that pending, later-filed, removed, or transferred actions related to the claims in this case be consolidated for all purposes under Rule 42(a) of the Federal Rules of Civil Procedure. - Directed that the action be captioned “In re Actinium Pharmaceuticals, Inc. Securities Litigation” and maintained under Master File No. 1:25-cv-02553-JPO.
The order addressed lead-plaintiff selection, appointment of counsel, and consolidation. It did not resolve the allegations against the defendants or determine liability on the securities claims.
Read the full 6-page opinion on CourtListener, the free public archive maintained by the Free Law Project.