|[October 18, 2013]
Law Offices of Howard G. Smith Announces Class Action Lawsuit Against ARIAD Pharmaceuticals, Inc.
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 a class (the "Class") comprising all
purchasers of the securities of ARIAD Pharmaceuticals, Inc. ("ARIAD" or
the "Company") (NASDAQ:ARIA) between December 12, 2011 and October 8,
2013, inclusive (the "Class Period").
ARIAD is an oncology company, engaged in the discovery, development and
commercialization of small-molecule drugs to treat cancer in patients
with aggressive cancers where current therapies are inadequate. ARIAD's
first-approved cancer medicine, Iclusig™, is a tyrosine kinase inhibitor
(TKI) for the treatment of adult patients with certain chronic or
aggressive forms of leukemia who are resistant or intolerant to prior
On October 9, 203, the Company announced that the U.S. Food and Drug
Administration placed a partial clinical hold on all new patient
enrollment in clinical trials of Iclusig, following reports of
non-serious and serious adverse events in Iclusig-treated patients.
Following this news, the price of ARIAD shares dropped nearly 66%, or
$11.31 per share, from the previous day's closing price of $17.14 per
share, to a closing price of $5.83 per share on October 9, 2013, on
extremely heavy volume.
If you are a member of the Class described above you may move the Court
no later than December 9, 2013 to serve as lead plaintiff; however, you
must 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 purchased ARIAD shares prior to the Class Period and have any
questions concerning this Notice or your rights or interests with
respect to these matters, 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 email@example.com,
or visit our website at http://www.howardsmithlaw.com.
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