NEW YORK, Oct. 7, 2016 /PRNewswire-USNewswire/
-- Pomerantz LLP is investigating claims on behalf of
investors of Ariad Pharmaceuticals, Inc. ("Ariad" or the "Company")
(NASDAQ: ARIA) (ISIN: US04033A1007). Investors are advised to
contact Robert S. Willoughby at
rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Ariad and certain of its
officers and/or directors have violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.
[Click here to join a class action]
On October 6, 2016, online
publication The Street published an article entitled "How
Ariad Pharma Used a Safety Problem to Jack Up a Cancer Drug's
Price," describing the circumstances surrounding the Company's
fourth price hike for its leukemia drug Iclusig. The article
reported that after the U.S. Food and Drug Administration, having
temporarily pulled Iclusig from the market, allowed Iclusig back on
the market with a reduced recommended dose and more restricted
approved use, Ariad "embarked on a series of massive price
increases" for its now-niche drug, "instead of reducing its price
tag to reflect less benefit overall."
On this news, Ariad's share price fell $0.52, or 3.75%, to close at $13.35 on October 6,
2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los
Angeles, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz Firm pioneered the field of securities class actions.
Today, more than 80 years later, the Pomerantz Firm continues in
the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of class members. See
www.pomerantzlaw.com.
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SOURCE Pomerantz LLP