|[October 11, 2013]
ALERT: The Rosen Law Firm Announces Filing of Securities Class Action Lawsuit On Behalf of Ariad Pharmaceuticals Inc. Investors - ARIA
NEW YORK --(Business Wire)--
The Rosen Law Firm today announced that a class action lawsuit has been
filed on behalf of all purchasers of the securities of Ariad
Pharmaceuticals Inc. (NASDAQ:ARIA) from December 12, 2011 through
October 8, 2013.
To join the Ariad class action, go to the website at http://rosenlegal.com
or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653
or email firstname.lastname@example.org or email@example.com
for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS
CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU
MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU
MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Defendants represented that the Company's
leukemia drug Iclusig (ponatinib) was safe, effective and without
serious adverse events such as serious arterial thrombotic and
cardiovascular events throughout the Class Period. Specifically, on
December 11, 2011, the Company announced preliminary clinical data from
its crucial PACE trial of Iclusig that allegedly provided "strong
clinical evidence of the anti-leukemic activity of ponatinib." The
Company also praised the "favorable safety and tolerability profile of
ponatinib." Based upon these representations, the Company achieved FDA
approval for Iclusig on December 14, 2012.
On October 9, 2013, the Company provided an update on the data from its
PACE trial and revealed that Iclusig caused a higher rate of blood clots
and heart-related side effects than previously disclosed. In particular,
the Company reported that an astounding 11.8% of patients treated with
Iclusig experienced serious arterial thrombosis, and that 6.2% of them
had cerebrovascular events. As a result, the FDA halted enrollment of
new patients for Iclusig testing, and the Company advised current
patients of the drug to lower their dosage. On this news, Ariad shares
declined $11.31 per share, or approximately 66%, to close at $5.83 per
share on October 9, 2013.
A class action lawsuit has already been filed on behalf of Ariad
investors. If you wish to serve as lead plaintiff, you must move the
Court no later than December 9, 2013. If you wish to join the litigation
or to discuss your rights or interests regarding this class action,
please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law
Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org
The Rosen Law Firm focuses on prosecuting securities class action
litigation and actions involving financial fraud. The Rosen Law Firm
represents investors throughout the globe concentrating its practice in
securities class actions.
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