INVESTOR ALERT: Class Action Lawsuit Against Vertex Pharmaceuticals Incorporated Announced by Law Offices of Howard G. Smith
July 23 2014 - 01:23PM
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 all purchasers of the common
stock of Vertex Pharmaceuticals Incorporated (“Vertex” or the
“Company”) (NASDAQ:VRTX) between May 7, 2012 and May 29, 2012,
inclusive (the “Class Period”).
Vertex is engaged in discovering, developing, manufacturing and
commercializing small molecule drugs for patients with serious
diseases. The Company markets Kalydeco in the United States and
European Union as a treatment for patients aged six years and older
with a rare form of cystic fibrosis. The Complaint alleges that the
Company issued false and misleading public statements concerning
Vertex’s products VX-809 and Kalydeco.
On May 29, 2012, the Company issued a correction of the interim
analysis of the Phase 2 Combination Study of VX-809 and Kalydeco,
stating that the correction was due to a “misinterpretation”
between Vertex and a third-party statistical analysis vendor over
the study data. Following this news, the Company’s stock price
plummeted from its previous closing price of $64.85 on May 25,
2012, to close at $57.80 per share on May 29, 2012.
If you are a member of the Class described above, you have until
July 28, 2014, to move the Court 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, 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
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
Law Offices of Howard G. SmithHoward G. Smith, Esquire(215)
638-4847(888)
638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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