SHAREHOLDER ALERT: Pomerantz Law Firm Has Filed a Class Action Against Sarepta
Therapeutics, Inc. and Certain Officers -- SRPT
NEW YORK, Jan. 30, 2014 (GLOBE NEWSWIRE) -- Pomerantz LLP has filed a class
action lawsuit against Sarepta Therapeutics, Inc. ("Sarepta" or the "Company")
(Nasdaq:SRPT) and certain of its officers. The class action, filed in United
States District Court, District of Massachusetts, and docketed under
14-cv-10225 is on behalf of a class consisting of all persons or entities who
purchased or otherwise acquired securities of Sarepta between July 24, 2013
and November 12, 2013 both dates inclusive (the "Class Period"). This class
action seeks to recover damages against the Company and certain of its
officers and directors as a result of alleged violations of the federal
securities laws pursuant to Sections 10(b) and 20(a) of the Securities
Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
If you are a shareholder who purchased Sarepta securities during the Class
Period, you have until March 28, 2014 to ask the Court to appoint you as Lead
Plaintiff for the class. A copy of the Complaint can be obtained at
www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby
at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll free, x237.
Those who inquire by e-mail are encouraged to include their mailing address,
telephone number, and number of shares purchased.
Sarepta is a biopharmaceutical company that focuses on the discovery and
development of RNA-based therapeutics for the treatment of rare and infectious
The Complaint alleges that throughout the Class Period, Defendants made
materially false and misleading statements regarding the Company's business,
operational and compliance policies. Specifically, Defendants made materially
false or misleading statements concerning, among other things, (1) the
prospects of the FDA's acceptance for consideration of a New Drug Application
("NDA") for eteplirse, Sarepta's pharmaceutical to treat Duchenne muscular
dystrophy, based on its Phase IIb study data set, and (2) the significance of
that data set.
On November 11, 2013, shares of Sarepta declined sharply after the Company
announced that it was told by the Food and Drug Administration, (FDA) not to
file for accelerated approval of eteplirsen.On this news, shares of Sarepta
fell $23.40 per share, more than 64.00%, on intraday trading, to a price of
$13.16 on November 11, 2013.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego,
is acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the Pomerantz Firm
pioneered the field of securities class actions. Today, more than 70 years
later, the Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of fiduciary duty,
and corporate misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Robert S. Willoughby
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