SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

TMCNet:  INVESTOR ALERT: Class Action Lawsuit Against Prosensa Holding N.V. Filed By Glancy Binkow & Goldberg LLP

[July 18, 2014]

INVESTOR ALERT: Class Action Lawsuit Against Prosensa Holding N.V. Filed By Glancy Binkow & Goldberg LLP

LOS ANGELES --(Business Wire)--

Glancy Binkow & Goldberg LLP, representing investors of Prosensa Holding N.V. ("Prosensa" or the "Company") (NASDAQ:RNA), has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of a class (the "Class") comprising all persons and/or entities who purchased or otherwise acquired the ordinary shares of Prosensa pursuant and/or traceable to the Registration Statement and Prospectus (collectively, the "Registration Statement") issued in connection with the Company's initial public offering ("IPO") on or about June 28, 2013.

Please contact us at (310) 201-9150, or at shareholders@glancylaw.com to discuss this matter. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

Prosensa is a biotechnology company engaged in the discovery and development of RNA-modulating therapeutics for the treatment of genetic disorders. The Company's first and lead product candidate was drisapersen, which Prosensa was developing in collaboration with GlaxoSmithKline to address a variety of mutations resulting in inadequate production of dystrophin - a protein necessary for muscle function. The Complaint alleges that the Registration Statement contained materially false and/or misleading statements and/or omitted material information concerning the development status of drisapersen, the drug's Phase II and Phase III clinical studies, and the prospects for drisapersen's regulatory approval.


On September 20, 2013, less than three months after the IPO, the Company issued a joint press release with GlaxoSmithKline, disclosing that drisapersen had not met the primary endpoint in the Phase III study. According to the press release, "[t]here was no treatment difference in key secondary assessments of motor function: 10-meter walk/run test, 4-stair climb and North Star Ambulatory Assessment."

As a result of this news, Prosensa stock declined approximately 70 percent, or $16.86 per share, on unusually heavy trading volume, to close on September 20, 2013 at $7.14 per share.

If you are a member of the Class described above, you may move the Court no later than 60 days from the date of this Notice 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, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (646) 539-8980, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


[ Back To Technology News's Homepage ]

OTHER NEWS PROVIDERS







Technology Marketing Corporation

800 Connecticut Ave, 1st Floor East, Norwalk, CT 06854 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments: tmc@tmcnet.com.
Comments about this site: webmaster@tmcnet.com.

STAY CURRENT YOUR WAY

© 2014 Technology Marketing Corporation. All rights reserved.