Update in Lawsuit for Investors in NASDAQ: PTCT Shares Against PTC Therapeutics, Inc. Announced by Shareholders Foundation
SAN DIEGO, CA / ACCESSWIRE / September 19, 2017 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for investors who purchased (PTCT) shares against PTC Therapeutics, Inc. over alleged Securities Laws Violations.
Investors, who purchased shares of PTC Therapeutics, Inc. (PTCT) prior to May 2014 and currently hold any of their NASDAQ: PTCT shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On February 23, 2016, PTC Therapeutics, Inc. announced that it received a Refuse to File letter from the United States Food and Drug Administration ("FDA") regarding PTC Therapeutics' New Drug Application ("NDA") for Translarna™ (ataluren), an oral, first-in-class, protein restoration therapy for the treatment of nonsense mutation Duchenne muscular dystrophy ("nmDMD").
On March 3, 2016, a lawsuit was filed against PTC Therapeutics, Inc. over alleged securities laws violations. The plaintiff claims that the defendants made allegedly false and/or misleading statements and/or failed to disclose that the Company's NDA for Translarna that it submitted to the FDA was not sufficiently complete to permit a substantive review of the application, that, as such, the application would not be reviewed nor approved by the FDA, that the impending non-approval of the NDA would have a negative material impact on the Company's operations and prospects, and that, as a result of the foregoing Defendants' statements about PTC Therapeutics' business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
In January 2017, an amended consolidated complaint was filed and the defendants filed their motion to dismiss the case in February 2017. In August 2017, the court denied in part the defendants motion to dismiss the case.
Those who purchased PTC Therapeutics, Inc. (PTCT) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
SOURCE: Shareholders Foundation, Inc.
