STEVENSON, Md., March 12, 2014 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of purchasers of The Medicines Company ("Medicines" or the "Company") (Nasdaq:MDCO) securities during the period between February 20, 2013 and February 12, 2014, inclusive (the "Class Period").
If you have suffered a net loss from investment in Medicines securities purchased on or after February 20, 2013 and held through the revelation of negative information during and/or at the end of the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff, at no cost to you, by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than April 22, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that Cangrelor, Medicines drug candidate designed to prevent blood clots during heart artery-clearing angioplasty and stenting procedures, did not show superiority to clopidogrel, a competing drug already approved by the U.S. Food and Drug Administration ("FDA") and that the Company's CHAMPION clinical trials which compared the efficacy of Cangrelor to clopidogrel were unethically and inappropriately administered including by delaying administration of clopidogrel and lowering its dosage. According to the complaint, following the release by the FDA of a briefing document on February 10, 2014 indicating that Cangrelor did not show superiority to clopidogrel and that the clinical trials sponsored by Medicines were unethically and inappropriately administered such that the FDA could refuse approval based on that fact, alone, the value of Medicines' shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.