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NEW YORK, March 09, 2016 -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in United States District Court for the District of New Jersey on behalf of all persons or entities (“the Class”) who purchased or otherwise acquired PTC Therapeutics, Inc. (“PTC” or the “Company”) (NASDAQ:PTCT) securities between May 6, 2014 and February 23, 2016, inclusive (the “Class Period”).
Shareholders who incurred losses on PTC Therapeutics, Inc. securities purchased within the class period are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774.
If you purchased shares of PTC Therapeutics, Inc. within the period May 6, 2014 and February 23, 2016, inclusive, you may, no later than May 2, 2016, request that the Court appoint you lead plaintiff of the proposed class.
The filed Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the filed Complaint, on February 23, 2016, PTC announced that it received a Refuse to File letter from the United States Food and Drug Administration (“FDA”) regarding the New Drug Application for Translarna. The FDA stated in the Refuse to File letter that the application was not sufficiently complete to permit a substantive review. On this news, shares of PTC fell over 61%, closing at $10.84 per share on February 23, 2016, a market capitalization loss of close to $600 million.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “PTC Therapeutics Investigation.”
Attorney Advertising. Prior results do not guarantee or predict a similar outcome.
Contact: Wolf Haldenstein Adler Freeman & Herz LLP Patrick Donovan, Esq. Gregory Stone, Director of Case and Financial Analysis Email: [email protected], [email protected] or [email protected] Tel: (800) 575-0735 or (212) 545-4774
