WILMINGTON, Del., March 04, 2016 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)?
- Did you purchase your shares between May 6, 2014 and February 23, 2016, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the District of New Jersey on behalf of all persons or entities that purchased the common stock of PTC Therapeutics (“PTC” or the “Company”) (NASDAQ:PTCT) between May 6, 2014 and February 23, 2016, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of PTC during the Class Period, or purchased shares prior to the Class Period and still hold PTC, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com; or at: http://rigrodskylong.com/investigations/ptc-therapeutics-inc-ptct.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on February 23, 2016, PTC announced that it received a Refuse to File letter from the United States Food and Drug Administration (“FDA”) regarding PTC's 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”). The FDA stated in the Refuse to File letter that the application was not sufficiently complete to permit a substantive review.
On this news, shares of PTC plummeted over 61%, closing at $10.84 per share on February 23, 2016, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than May 2, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
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