Prosensa Holding - National Securities Law Firm Encourages Shareholders to
Contact Law Firm Before Lead Plaintiff Deadline
NEW YORK, July 21, 2014
NEW YORK, July 21, 2014 /PRNewswire/ --Tripp Levy PLLC, a leading national
securities law firm, announces that a class action lawsuit has been filed on
behalf of shareholders of Prosensa Holding N.V. ("Prosensa" or the "Company")
(NASDAQ: RNA) in the United States District Court for the Southern District of
New York on behalf of a class (the "Class") comprising all persons and/or
entities who purchased or otherwise acquired the ordinary shares of Prosensa
pursuant and/or traceable to the Registration Statement and Prospectus
(collectively, the "Registration Statement") issued in connection with the
Company's initial public offering ("IPO") on or about June 28, 2013
If you wish to discuss this action or have any questions concerning this
notice or your rights or interests, please contact Tripp Levy PLLC via e-mail
at email@example.com or call us toll free at 1-800-511-7037 or visit our
website at www.tripplevy.com . Any member of the putative class may move the
Court to serve as lead plaintiff through counsel of their choice, or may
choose to do nothing and remain an absent class member.
Prosensa is a biotechnology company engaged in the discovery and development
of RNA-modulating therapeutics for the treatment of genetic disorders. The
Company's first and lead product candidate was drisapersen, which Prosensa was
developing in collaboration with GlaxoSmithKline to address a variety of
mutations resulting in inadequate production of dystrophin − a protein
necessary for muscle function. The Complaint alleges that the Registration
Statement contained materially false and/or misleading statements and/or
omitted material information concerning the development status of drisapersen,
the drug's Phase II and Phase III clinical studies, and the prospects for
drisapersen's regulatory approval.
On September 20, 2013, less than three months after the IPO, the Company
issued a joint press release with GlaxoSmithKline, disclosing that drisapersen
had not met the primary endpoint in the Phase III study. According to the
press release, "[t]here was no treatment difference in key secondary
assessments of motor function: 10-meter walk/run test, 4-stair climb and North
Star Ambulatory Assessment."
As a result of this news, Prosensa stock declined approximately 70 percent, or
$16.86 per share, on unusually heavy trading volume, to close on September 20,
2013 at $7.14 per share.
Plaintiff seeks to recover damages on behalf of all purchasers of Prosensa
publicly traded securities issued in connection with the Company's initial
public offering ("IPO") on or about June 28, 2013. Tripp Levy PLLC is a
leading national securities and shareholder rights law firm with offices
across the country representing both individual and institutional shareholders
and, along with its affiliates, has recovered billions of dollars for
shareholders. Tripp Levy PLLC is affiliated with Milberg LLP.
Attorney advertising. Prior results do not indicate a similar outcome
Toll free: 1-800-511-7037
SOURCE Tripp Levy PLLC
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