|[November 01, 2013]
Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against ARIAD Pharmaceuticals, Inc.
BENSALEM, Pa. --(Business Wire)--
Law Offices of Howard G. Smith announces that investors of ARIAD
Pharmaceuticals, Inc. ("ARIAD" or the "Company") (NASDAQ:ARIA) have
until December 9, 2013, to move the Court to serve as lead plaintiff in
the securities fraud class action lawsuit filed in the United States
District Court for the District of Massachusetts on behalf of a class
(the "Class") comprising all purchasers of ARIAD securities 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, IclusigTM, is a tyrosine
kinase inhibitor (TKI) for the treatment of adult patients with certain
chronic or aggrssive forms of leukemia who are resistant or intolerant
to prior TKI therapy.
On October 9, 2013, 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 have certain
rights and have until December 9, 2013, to move for lead plaintiff
status. To be a member of the class you need not take any action at this
time or may retain counsel of your choice. If you purchased shares prior
to the Class Period and wish to learn more concerning 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 firstname.lastname@example.org,
or visit our website at http://www.howardsmithlaw.com.
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