Actinium securities class action dismissed with prejudice; plaintiffs file appeal

Actinium Pharmaceuticals, Inc. (NYSE American: ATNM) said in its proxy statement filed October 15, 2026 that the federal court dismissed the securities class action against it with prejudice on September 4, 2026, and that plaintiffs filed a notice of appeal on September 30, 2026. Stockholder Nitin Kohil filed the case on March 27, 2025 as Kohil v. Actinium Pharmaceuticals, Inc., et al., Case No. 1:25-cv-02553, in the U.S. District Court for the Southern District of New York. The court later recaptioned it In re Actinium Pharmaceuticals, Inc. Securities Litigation.

The defendants are Actinium and executives Sandesh Seth, Avinash Desai, Madhuri Vusirikala and Sergio Giralt. Four derivative complaints based on the same allegations name certain of the company's directors and officers, with Seth in each caption.

The case

The complaint alleges that the defendants made material misrepresentations and omissions about the Iomab-B Phase 3 SIERRA trial during a proposed class period of October 31, 2022 to August 2, 2024. It asserts claims under Sections 10(b) and 20(a) of the Exchange Act and sought unspecified damages.

The court appointed lead plaintiffs on June 24, 2025, and they filed an amended complaint on August 25, 2025. Defendants moved to dismiss on October 27, 2025. Lead plaintiffs opposed on December 19, 2025, and defendants replied on February 2, 2026. Actinium's 10-Q filed August 7, 2026 reported that the parties were still awaiting the ruling.

Defendants

In the class action, the filings name Actinium, Seth, Desai, Vusirikala and Giralt. They describe the four people only as executives and give no titles. Seth signed Actinium's 10-K filed March 31, 2025 as chairman and chief executive officer.

The derivative cases are Georges v. Seth et al., Case No. 1:25-cv-03738-JPO, filed May 5, 2025; Robinson v. Seth et al., Case No. 1:25-cv-04012-JPO, filed May 13, 2025; Clampitt v. Seth et al., filed June 20, 2025 in the Supreme Court of the State of New York, County of New York; and Perez v. Seth, et al., filed August 17, 2026 in the same court. The filings say only that they target certain directors and officers and name Seth in each caption.

The 10-K filed March 31, 2025, the last annual report before the first derivative suit, was signed by directors June Almenoff, Jeffrey Chell, David Nicholson, Richard I. Steinhart and Ajit J. Shetty, along with Seth, and by chief financial officer Steve O'Loughlin. No filing reviewed says these people are defendants.

Where it stands

The court dismissed the class action with prejudice on September 4, 2026. Plaintiffs appealed on September 30, 2026.

The two federal derivative cases were consolidated on June 24, 2025 as In re Actinium Pharmaceuticals, Inc. Derivative Litigation. The court so-ordered a stay on July 30, 2025, pending the motion to dismiss in the class action. The New York state case filed by Clampitt was stayed on November 12, 2025. Defendants are discussing next steps with the derivative plaintiffs in light of the dismissal and the pending appeal.

A separate matter: a stockholder served a books and records demand under Section 220 of the Delaware General Corporation Law on June 17, 2025, seeking documents on the same facts. Actinium rejected it by letter dated July 8, 2025. The stockholder has not followed up since October 2025.

Why it matters to shareholders

Actinium says it and the other defendants intend to defend vigorously, with no assurance about the outcome. The filings reviewed give no estimate of loss, no accrual and no information on insurance coverage.

A 10-Q risk factor says litigation such as these matters, whether or not successful, could result in substantial costs and diversion of management's attention. The proxy says the parties continue to discuss the Section 220 demand.

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