U.S. Markets closed

SHAREHOLDER ALERT - Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Aradigm Corporation (ARDM) & Lead Plaintiff Deadline: March 12, 2018

NEW YORK, Jan. 12, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Aradigm Corporation ("Aradigm" or the "Company") (ARDM) and certain of its officers, on behalf of shareholders who purchased Aradigm securities between July 27, 2017, and January 8, 2018, both dates inclusive ("Class Period"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/ardm.

Bronstein, Gewirtz & Grossman, LLC

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

Aradigm Corporation develops novel pulmonary drug delivery systems. The Company's systems are designed to enhance the delivery and effectiveness of a number of existing and development stage drugs and reduce the need for injectable drug therapy. On July 27, 2017, Aradigm submitted a New Drug Application ("NDA") to the U.S. Food and Drug Administration ("FDA") for U.S. marketing approval for Linhaliq for the treatment of non-cystic fibrosis bronchiectasis patients with chronic lung infections.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically the Complaint alleges that, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the methodology underlying Aradigm's Linhaliq Phase III clinical trials was not well tailored to yield consistent efficacy findings or to provide data sufficient to account for discordant efficacy findings; (2) the endpoint of the Phase III trials—namely, delaying the time to first exacerbation on study therapy compared to placebo over approximately one year of observation—was unlikely to demonstrate a clinically meaningful benefit with respect to a patient population that would likely be taking the drug for a longer duration; (3) as a result, these studies were unlikely to support FDA approval of the Linhaliq NDA; and (4) consequently, Aradigm's public statements were materially false and misleading at all relevant times.

On January 9, 2018, the U.S. Food and Drug Administration ("FDA") released its briefing document for the Antimicrobial Drugs Advisory Committee meeting scheduled for January 11, 2018. The FDA plans to discuss Aradigm's New Drug Application for Linhalig for the proposed indication of treatment of non-cystic fibrosis bronchiectasis ("NCFB"). The briefing document stated that "[t]he Agency recommended that two adequate and well-controlled clinical trials be conducted to supposed the NCFB indication because," among other things, "there were too many uncertainties with regard to duration of treatment, frequency of administration and endpoints to allow for reliance on a single Phase 3 trial," and "the conduct of two independent trials would be important in providing replicative evidence supporting an overall demonstration of efficacy and safety." Following this news, Aradigm stock dropped $2.28 per share, or 38.12%, to close at $3.70 per share on January 9, 2018.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: http://www.bgandg.com/ardm or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Aradigm you have until March 12, 2018 to request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

Cision

View original content with multimedia:http://www.prnewswire.com/news-releases/shareholder-alert---bronstein-gewirtz--grossman-llc-notifies-investors-of-class-action-against-aradigm-corporation-ardm--lead-plaintiff-deadline-march-12-2018-300581887.html

  • Mega Millions $1.6 Billion Jackpot Also Comes With a Mega Millions Tax Bill
    Finance
    Fortune

    Mega Millions $1.6 Billion Jackpot Also Comes With a Mega Millions Tax Bill

    With a jackpot of $1.6 billion, tonight’s Mega Millions lottery drawing is the biggest in history. The Mega Millions drawing will be held Tuesday night at 11 p.m. ET—and the odds are categorically against you. The Mega Millions tax bite, though, is pretty solid.

  • Companies Say They're Ready to Move Supply Chains From China
    News
    Bloomberg

    Companies Say They're Ready to Move Supply Chains From China

    U.S. President Donald Trump imposed a 10 percent tariff on $200 billion of Chinese imports in September -- following an earlier round of tariffs on $50 billion of goods -- and promised to raise the duty to 25 percent in January. "We’re pro-actively taking action," Todd Bluedorn, chief executive officer of the Texas-based HVAC company, told analysts during an Oct. 22 earnings call.

  • 2 More Marijuana Stocks Are Moving to the NYSE
    Business
    Motley Fool

    2 More Marijuana Stocks Are Moving to the NYSE

    This year, we've witnessed GW Pharmaceuticals gain approval in the U.S. for the first cannabis-derived drug, and we watched as Vermont legalized recreational marijuana use entirely through the legislative process. This began with Cronos Group at the end of February, when it chose to list its shares on the Nasdaq. It was followed just a few months later by Canopy Growth Corp., which became the first marijuana stock to list on the NYSE.

  • Why Investors Are Paying a Premium for These 3 Biotech Stocks
    Business
    Motley Fool

    Why Investors Are Paying a Premium for These 3 Biotech Stocks

    Amarin stock exploded in September because it looks like Vascepa will become the next go-to drug for this enormous population. During the 8,179-patient Reduce-It trial, patients given Vascepa in addition to their normal statin treatments were 25% less likely to suffer a major cardiovascular event such as a heart attack. Over the past year, Amarin Corporation actually lost $92 million because sales of Vascepa just haven't kept pace with operating expenses.

  • The stock market's 'dead cat bounce' is over and the rolling bear market is making a comeback, Morgan Stanley says
    Business
    Business Insider

    The stock market's 'dead cat bounce' is over and the rolling bear market is making a comeback, Morgan Stanley says

    The stock market may have bounced back from its sharp sell-off at the beginning of October, but Morgan Stanley says the selling will pick back up soon. The firm expects the S&P 500 to slide back below the 200-day moving average, a key technical level. Tread carefully in tech and consumer discretionary, Morgan Stanley warns.

  • Microsoft, Boeing, AMD — What you need to know in markets on Wednesday
    Finance
    Yahoo Finance

    Microsoft, Boeing, AMD — What you need to know in markets on Wednesday

    Tuesday was another wild ride for investors. Futures were deep in the red early Tuesday and the Dow was off more than 500 points at its lows before markets staged a nice comeback throughout the session though markets never were able to re-take the flatline. The Dow was dragged down on Tuesday by shares of Caterpillar (CAT) and 3M (MMM) after disappointing results, though both stocks closed well of their lows of the session.

  • MARKETS: Here's why stocks are selling off right now and what a bottom would look like
    Business
    Yahoo Finance Video

    MARKETS: Here's why stocks are selling off right now and what a bottom would look like

    Live from the floor of the New York Stock Exchange, Yahoo Finance's Jared Blikre joins Seana Smith to discuss the latest market moves.

  • Suze Orman missed the point of retirement, and that’s why she went back to work
    News
    MarketWatch

    Suze Orman missed the point of retirement, and that’s why she went back to work

    Suze Orman did a smackdown of the FIRE (Financial Independence/Retire Early) movement on Paula Pant’s podcast. Coach Carson posted a balanced, informative response, appreciating Suze’s admonition to be sure you have enough for a risk-free retirement. Suze enumerated a string “what can go wrong” scenarios as evidence that early retirement (on less than $10 million) leaves you vulnerable when life hands you lemons — a whole tree of lemons.

  • What Does Autodesk’s Latest Performance Look Like?
    Finance
    Market Realist

    What Does Autodesk’s Latest Performance Look Like?

    Autodesk’s (ADSK) revenue fell at a four-year CAGR (compound annual growth rate) of 2% to $2.1 billion in fiscal 2018, which ended on January 31, 2018. The Media, Entertainment, and Other segments generated the company’s remaining revenue. The company recorded positive net income of $57.6 million in the first half of fiscal 2019. Autodesk’s revenue forecasts for fiscal 2019, fiscal 2020, and fiscal 2021, respectively, are $2.5 billion, $3.2 billion, and $3.9 billion. Its expected net incomes are $207 million, $689 million, and $1.1 billion, respectively.

  • 5 Deeply Discounted Value Stocks That Haven't Been This Cheap in at Least a Decade
    Business
    Motley Fool

    5 Deeply Discounted Value Stocks That Haven't Been This Cheap in at Least a Decade

    October has been a wake-up call for investors that the stock market won't go up in a straight line, even if we'd like it to. Sure, Bank of America (NYSE: BAC) has seen its stock catapult higher from its Great Recession lows, but its forward P/E of 9.8 would represent a more-than-decade low for the stock.

  • Tesla Skeptic Andrew Left Is Now Long on ‘Proven Hit’ Model 3
    Business
    Bloomberg

    Tesla Skeptic Andrew Left Is Now Long on ‘Proven Hit’ Model 3

    Citron Research’s Andrew Left, a vocal and long-term Tesla short, said in a report Tuesday that the electric-car maker is snatching customers from BMW, Mercedes, Toyota and Honda. In a Bloomberg Television interview, he said Chief Executive Officer Elon Musk has distracted investors from a company that’s turning a corner. “Elon Musk has made such a sideshow of himself that people started to forget about -- including myself -- the underlying business,” Left said on Bloomberg TV.

  • News
    CNBC

    Here's how much money you should have saved by 50

    Fidelity, the nation's largest retirement-plan provider, recommends having the equivalent of six times your annual salary saved. To get to that number, Fidelity recommends saving 15 percent of your annual income. Make sure to invest these funds instead of leaving them in a traditional low-interest savings account.

  • Why These 3 Top Marijuana Stocks Slumped Today
    Business
    Motley Fool

    Why These 3 Top Marijuana Stocks Slumped Today

    With earnings season hitting a crescendo this week, investors are looking closely at the specific prospects for certain corners of the market, and that's contributing to disparities among the various major benchmarks followed most often by investors. Amid the crosscurrents, marijuana stocks took particularly hard hits, and New Age Beverages (NASDAQ: NBEV), Tilray (NASDAQ: TLRY), and Canopy Growth (NYSE: CGC) were among the worst performers on the day. All three of these stocks have given back some of their gains following the long-awaited legalization of recreational cannabis in the Canadian market last week. In the month leading up to the Oct. 17 start date for legal cannabis sales, New Age Beverages tripled in value, while Tilray had more than doubled since the end of August, and Canopy Growth had seen more modest gains of between 10% and 20%.

  • Caterpillar's Q3 beat expectations, shares tumble
    Finance
    Yahoo Finance

    Caterpillar's Q3 beat expectations, shares tumble

    A Caterpillar Inc. equipment is on display for sale at a retail site in San Diego, California, U.S., March 3, 2017. Global construction equipment giant Caterpillar (CAT) announced quarterly results that were a bit better than expected. Caterpillar’s construction industries business segment sales grew 16% to $5.7 billion.

  • Trump’s Tax Push to Help Middle Class Could Help Top Earners Too
    Politics
    Bloomberg

    Trump’s Tax Push to Help Middle Class Could Help Top Earners Too

    It’s still unclear how Trump will propose to reduce the tax burden on middle-class Americans, but one of the most straightforward ways would be to lower rates by 10 percent for single filers making up to $82,500. U.S. income tax rates are graduated and income dollars get taxed in chunks as they move up through the brackets -- which means wealthy Americans would also get to apply the reduced rate on their first dollars of income. “A millionaire gets the same size tax cut,” said Kyle Pomerleau, an economist at the conservative Tax Foundation.

  • Business
    Barrons.com

    Micron Technology Is Under the Gun as Demand Outlook Worsens

    The price of (MU) stock has fallen nearly 40% since the summer, but the upside has diminished as well, according to Susquehanna analyst Mehdi Hosseini. “Recent checks imply incremental weakness in Cloud and Enterprise spending expectations” for the first half of 2019, Hosseini wrote on Tuesday. Hosseini lowered his price target for Micron to $45 from $75, implying upside of about 17% from the current level.

  • Why Tesla Pushed Up Q3 Earnings Report
    Business
    Bloomberg

    Why Tesla Pushed Up Q3 Earnings Report

    Oct.23 -- Tesla Inc.’s pulled forward its third-quarter earnings release to post-market on Oct. 24. Bloomberg Businessweek's Max Chafkin and Pierre Ferragu, analyst at New Street research, discuss the factors behind the decision and outlook for the electric automaker on "Bloomberg Technology,"

  • Why Nektar Therapeutics Crashed 17.2% Today
    Business
    Motley Fool

    Why Nektar Therapeutics Crashed 17.2% Today

    After delivering a disappointing update on NKTR-214 in cancer patients this summer, Nektar Therapeutics' (NASDAQ: NKTR) shares have been struggling. The company didn't report any news today, so a negative report issued by Plainview LLC this month may be to blamed for its 17.2% tumble today. In February, Bristol-Myers Squibb (NYSE: BMY) inked a blockbuster deal to license rights to NKTR-214 following positive data last year for NKTR-214's use alongside Bristol-Myers' Opdivo.

  • Finance
    CNBC

    The fear gauge and strong earnings tell Jim Cramer this bottom in the stock market may be real

    The Cboe Volatility Index and strong earnings reports from key companies helped stocks recover intraday on Tuesday, CNBC's Jim Cramer says. The Cboe Volatility Index , also known as the stock market's fear gauge or the VIX, flashed a signal that could mean the market bottomed during Tuesday's turbulent trading session , CNBC's Jim Cramer said. Last week, the "Mad Money" host called on technician Mark Sebastian, who specializes in volatility, to get a read on the VIX , which measures expectations of near-term volatility by tracking S&P 500 option prices.

  • 4 Things Aurora Cannabis Did Right Before Its NYSE Debut
    Business
    Motley Fool

    4 Things Aurora Cannabis Did Right Before Its NYSE Debut

    Aurora Cannabis (NASDAQOTH: ACBFF) (TSX: ACB) has sought to make it even easier for U.S. investors to buy its shares by arranging to have its shares listed on the New York Stock Exchange. Beginning tomorrow, Oct. 23, Aurora will join the elite group of cannabis companies whose shares trade on major U.S. exchanges. Getting ready for the increased exposure that a NYSE listing brings takes time and effort, and Aurora Cannabis hasn't wasted any time.

  • Twitter locks Elon Musk's account after bizarre posts
    Business
    The Telegraph

    Twitter locks Elon Musk's account after bizarre posts

    Elon Musk claims Twitter temporarily locked his account after fearing his bizarre posts were the work of hackers. Hours earlier, the Tesla and SpaceX chief declared his love for anime. Another post, written by Musk just minutes later said he owned a wolverine that he described as “chibi”, which is Japanese slang for short. It is not known exactly which tweets caused Twitter to temporarily block Musk, however the social network has been stepping up its crackdown on what it believes to be “spam accounts” in recent months.

  • S&P 500 closes down for fifth day as stocks retreat in wake of China selloff
    News
    MarketWatch

    S&P 500 closes down for fifth day as stocks retreat in wake of China selloff

    U.S. stocks bounced off intraday lows and major indexes trimmed early losses Tuesday, but the S&P 500 still finished lower for a fifth session as a big drop in the Chinese market revived fresh questions about the global economy. The Dow Jones Industrial Average (DJIA) fell 125.98, or 0.5%, to 25,191.43 after being down more than 500 points earlier. (DJIA)On Monday, Dow industrials and the S&P 500 closed lower while the Nasdaq bucked the trend to edge higher.

  • What to Expect from Bristol-Myers Squibb’s Q3 Earnings
    Finance
    Market Realist

    What to Expect from Bristol-Myers Squibb’s Q3 Earnings

    Bristol-Myers Squibb (BMY) is expected to report its third-quarter earnings on October 25. Analysts expect Bristol-Myers Squibb’s revenues to increase 8.87% from $5.25 billion in the third quarter of 2017 to $5.72 billion in the third quarte of 2018. In the last four quarters, Bristol-Myers Squibb’s revenue growth has been 3.93%–10.89%.

  • Finance
    CNBC

    Here's the tax bite on $1.6 billion Mega Millions and $620 million Powerball jackpots

    Strategies can be employed to reduce the amount of your win that is taxed, although they are best explored with the help of an experienced tax advisor. While it's anyone's guess who will end up winning the Mega Millions and Powerball jackpots, there's at least one guaranteed recipient of a chunk of the loot — the IRS. With the Mega Millions jackpot at $1.6 billion and Powerball's top prize at $620 million, that tax bill will be hefty even if the winner employs strategies to reduce their taxable income.

  • One of the largest cannabis companies is going public on the New York Stock Exchange
    Business
    Business Insider

    One of the largest cannabis companies is going public on the New York Stock Exchange

    Aurora Cannabis, one of the largest Canadian marijuana producers, is going public on the New York Stock Exchange. Aurora is joining a select list of Canadian cannabis producers, including Tilray and Cronos, that are able to list on US-based exchanges.