SHAREHOLDER ALERT: Investors with More Than $150,000 in Losses from
Investments in Achillion Pharmaceuticals, Inc. Are Encouraged to Contact
Wolf Haldenstein before the December 9, 2013 Lead Plaintiff Deadline
NEW YORK -- November 7, 2013
On October 23, 2013, Wolf Haldenstein Adler Freeman & Herz LLP filed a class
action lawsuit in the United States District Court on behalf of all persons
who purchased or otherwise acquired common stock of Achillion Pharmaceuticals,
Inc. (“Achillion” or the “Company”) [NASDAQ GS: ACHN] between August 8, 2012
and September 30, 2013, inclusive (the “Class Period”), against the Company
and certain of the Company’s officers, alleging securities fraud pursuant to
the Securities Exchange Act of 1934.
The litigation is styled Jiang v. Achillion Pharmaceuticals, Inc. A copy of
the Complaint can be viewed on the Wolf Haldenstein website at www.whafh.com.
The Complaint alleges that during the Class Period, Achillion engaged in a
fraudulent scheme to artificially inflate the Company’s stock price by
disseminating false and misleading statements concerning its clinical trials
of the drug sovaprevir. The Company falsely represented that sovaprevir, one
of the protease inhibitor compounds intended as a treatment for the hepatitis
C virus, was well-tolerated and had a low potential for drug-drug
interactions. Indeed, Achillion touted the results of its clinical tests even
though, in July 2013, the United States Food and Drug Administration (“FDA”)
placed a clinical hold on sovaprevir.
Despite the Company’s repeated assurances, on September 27, 2013, Achillion
announced that the FDA ultimately concluded that the removal of the clinical
hold was not warranted. On this news, shares of Achillion fell 59.53% on
intraday trading, to $2.94 per share on September 30, 2013.
If you purchased ACHN common stock during the Class Period, you may request
that the Court appoint you as lead plaintiff by December 9, 2013. A lead
plaintiff is a representative party that acts on behalf of other class members
in directing the litigation.
Wolf Haldenstein has represented individual and institutional investors for
many years, serving as lead counsel in numerous cases in United States federal
and state courts. If you wish to discuss this action or have any questions,
please contact Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison
Avenue, New York, New York 10016, by telephone at (800) 575-0735 (Gregory M.
Nespole, Esq.), via e-mail at email@example.com, or visit our website at
www.whafh.com. All e-mail correspondence should make reference to “Achillion”.
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory M. Nespole, Esq.
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