Premarket ASK down to $23.50 -- Investors are not sure if Management really lied or not ! Jury will decide...
as per the lawsuit
shareholder class actions, announces the filing of the first securities class action lawsuit against Sarepta Therapeutics, Inc. ("Sarepta"), as filed in the United States District Court for the District of Massachusetts. The complaint alleges violations of federal securities laws; more specifically, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of materially false or misleading statements surrounding its disease-modifying drug, eteplirsen, which is used in the treatment of Duchenne muscular dystrophy or DMD. These statements had the effect of artificially inflating the market price of Sarepta's stock during the period of July 24, 2013 through and including November 12, 2013 (the "Class Period").
During this Class Period, it is alleged that Sarepta issued a series of multiple statements concerning, among other things: (1) the prospects of the Food and Drug Administration's ("FDA") acceptance for consideration of a New Drug Application ("NDA") for eteplirsen based on Sarepta's Phase IIb study data set, and (2) the significance of that data set. However, during a meeting on November 12, 2013, the FDA informed Sarepta that its announced, anticipated NDA filing for eteplirsen was premature. On this negative news, Sarepta's stock price fell $23.40, a decline of 64%, from its closing price of $36.56 per share on November 11, 2013, to $13.16 per share on November 12, 2013, on extraordinary volume
Oh, and why do you losers need to lie? There are NO premarket trades, and certainly none for $23.50. What kind of #$%$ needs to spread lies in order to make a living? You would prefer to STEAL your money rather than earn it legitimately? What a POS you are NASDscamartist. Go away and crawl back under your moms rock, ok?
The lawsuit is just the normal fishing attempt that these bottom living law firms seek out. They are thinking they can collect a nuisance fee, but nothing more. I hope they don't get squat. Beyond that, did you notice how impressive the 120 week data was? The kid with the broken leg healed COMPLETELY. First time I've ever heard of an injury like that healing in a DMD kid. Or hey!! How bout CG announcing that they are AHEAD of schedule with mid scale production. Amazing , right?
The law suit, as you know, gains little if any traction. But the 120 week data and the production success are sure to gain all sorts of traction, don't you think NASDloser?