Attention Prosensa Holding N.V. Investors: Prosensa Holding Misled Investors
According to a Recently Filed Class Action
SAN DIEGO and LEIDEN, Netherlands, July 22, 2014
SAN DIEGO and LEIDEN, Netherlands, July 22, 2014 /PRNewswire/ --Shareholder
rights law firm Robbins Arroyo LLP announces that an investor of Prosensa
Holding N.V. (NASDAQ: RNA) has filed a federal securities fraud class action
complaint in the U.S. District Court for the Southern District of New York.
The complaint alleges that the company and certain of its officers and
directors violated the Securities Act of 1933 in connection with the company's
June 28, 2013 initial public offering (the "IPO"). Prosensa Holding engages in
the discovery and development of ribonucleic acid-modulating therapeutics for
the treatment of genetic disorders.
Robbins Arroyo LLP
Prosensa Holding Is Accused of Failing to Disclose Material Facts in Its
According to the complaint, on September 20, 2013, shares of Prosensa Holding
fell $16.86 per share, or approximately 70%, to close at $7.14 per share,
following an announcement by the company that drisapersen, the company's first
and lead product candidate, failed to meet the primary endpoint of
statistically significant improvement in the DEMAND-III study for treatment of
Duchenne muscular dystrophy. The complaint alleges that Prosensa Holding's
Registration Statement, filed in connection with the IPO, was materially
inaccurate as it contained untrue statements of material fact and failed to
disclose other required material information concerning the development status
of drisapersen. Specifically, the Registration Statement failed to disclose
significant injection site reactions experienced by patients receiving
drisapersen injections during the company's DEMAND–II and DEMAND–III studies.
The inflammation and discomfort to patients caused by drisapersen injection
was atypical compared to the placebo and partially compromised the results of
the Phase II study.
Prosensa Holding Investors Are Encouraged to Contact Shareholder Rights Law
Firm Robbins Arroyo LLP
If you invested in Prosensa Holding and would like to discuss your shareholder
rights, please contact attorney Darnell R. Donahue at (800) 350-6003,
DDonahue@robbinsarroyo.com, or via the information form on the firm's
shareholder rights blog:
Robbins Arroyo LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising.Past results do not guarantee a similar outcome.
Darnell R. Donahue
Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003
SOURCE Robbins Arroyo LLP
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