ACHILLION PHARMACEUTICALS, INC. SHAREHOLDER ALERT: Levi & Korsinsky, LLP
Reminds Investors of Class Action Against Achillion Pharmaceuticals, Inc. and
Its Board of Directors and a Lead Plaintiff Deadline of December 9, 2013 --
NEW YORK, Nov. 13, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a
class action lawsuit has been commenced in the United States District Court
for the District of Connecticut on behalf of investors who purchased Achillion
Pharmaceuticals, Inc. ("Achillion" or the "Company") (Nasdaq:ACHN) common
stock between August 8, 2012 and September 30, 2013.
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The complaint alleges that the Company issued materially false and misleading
statements regarding the safety and suitability of its hepatitis drug
sovaprevir. In particular, it is alleged that the Company misled investors
regarding the drug's interactions with other drugs commonly administered to
treat hepatitis and/or HIV; it is further alleged that the Company misled
investors by stating that elevated liver enzymes in patients engaged in the
clinical trials were transient and related to non-drug-related factors.
On July 1, 2013, the Company disclosed that the FDA had instituted a hold on
sovaprevir after "elevations in liver enzymes" were noted in a Phase I healthy
subject drug-drug interaction study. Then on September 27, 2013, it was
announced that the FDA was maintaining its clinical hold on sovaprevir. Upon
this news, shares of Achillion fell over 58% to a close of $3.02 on September
If you suffered a loss in Achillion Pharmaceuticals you have until December 9,
2013 to request that the Court appoint you as lead plaintiff. Your ability to
share in any recovery doesn't require that you serve as a lead plaintiff. To
obtain additional information, contact Joseph E. Levi, Esq. either via email
at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972,
or visit http://zlk.9nl.com/achillion-pharmaceuticals-achn/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey,
Connecticut, and Washington D.C. The firm has extensive expertise in
prosecuting securities litigation involving financial fraud, representing
investors throughout the nation in securities and shareholder lawsuits.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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