NEW YORK, Feb. 07, 2017 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Aratana Therapeutics, Inc. (“Aratana” or the “Company”) (Nasdaq:PETX) in the United States District Court for the Southern District of New York on behalf of persons or entities who purchased or otherwise acquired Aratana stock between March 16, 2015 through February 3, 2017, inclusive (the “Class Period”), seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company did not have manufacturing contracts in place sufficient to support manufacturing of ENTYCE at a commercial scale; (2) consequently, ENTYCE was not likely to be commercially available until late 2017; (3) accordingly, the Company had misled investors with respect to the likely timeline for a commercial launch of ENTYCE; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you wish to serve as lead plaintiff, you must move the Court no later than April 7, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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