A lawsuit was filed on behalf of investors in NASDAQ:PTCT shares over alleged securities laws violations by PTC Therapeutics, Inc. and NASDAQ:PTCT investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/23/2016 -- A shareholder of PTC Therapeutics, Inc. (NASDAQ:PTCT) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by PTC Therapeutics, Inc.
Investors who purchased shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have certain options and for certain investors are short and strict deadlines running. Deadline: May 2, 2016. NASDAQ:PTCT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges on behalf of purchasers of PTC Therapeutics, Inc. (NASDAQ:PTCT) common shares between May 6, 2014 and February 23, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 6, 2014 and February 23, 2016, 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.
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"). Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) declined to as low as $5.29 per share on March 1, 2016.
On March 21, 2016, NASDAQ:PTCT shares closed at $6.15 per share.
Those who purchased shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com