[July 23, 2014] |
 |
INVESTOR ALERT: Class Action Lawsuit Against Vertex Pharmaceuticals Incorporated Announced by Law Offices of Howard G. Smith
BENSALEM, Pa. --(Business Wire)--
Law
Offices of Howard G. Smith announces that a class action lawsuit has
been filed in the United States District Court for the District of
Massachusetts on behalf of all purchasers of the common stock of Vertex (News - Alert)
Pharmaceuticals Incorporated ("Vertex" or the "Company") (NASDAQ:VRTX)
between May 7, 2012 and May 29, 2012, inclusive (the "Class Period").
Vertex is engaged in discovering, developing, manufacturing and
commercializing small molecule drugs for patients with serious diseases.
The Company markets Kalydeco in the United States and European Union as
a treatment forpatients aged six years and older with a rare form of
cystic fibrosis. The Complaint alleges that the Company issued false and
misleading public statements concerning Vertex's products VX-809 and
Kalydeco.
On May 29, 2012, the Company issued a correction of the interim analysis
of the Phase 2 Combination Study of VX-809 and Kalydeco, stating that
the correction was due to a "misinterpretation" between Vertex and a
third-party statistical analysis vendor over the study data. Following
this news, the Company's stock price plummeted from its previous closing
price of $64.85 on May 25, 2012, to close at $57.80 per share on May 29,
2012.
If you are a member of the Class described above, you have until July
28, 2014, to move the Court to serve as lead plaintiff, if you meet
certain legal requirements. To be a member of the Class you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you wish to
learn more about this action, please contact Howard G. Smith, Esquire,
of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free
at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.

[ Back To TMCnet.com's Homepage ]
|