Faruqi & Faruqi, LLP’s national practice focuses on complex civil litigation. The firm practices in the areas of Securities, Merger & Transactional, Shareholder Derivative, Antitrust, Consumer Class Action, and Wage & Hour litigation.
Monday, July 6, 2015
Faruqi & Faruqi Alert: Celladon Corporation
Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Celladon Corporation To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Celladon Corporation (“Celladon” or the “Company”) (NASDAQ:CLDN) of the August 31, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Celladon and certain officers. The lawsuit has been filed in the United States District Court for the Southern District of California, on behalf of a class consisting of all persons or entities who purchased Celladon securities between July 7, 2014 and June 25, 2015 (the “Class Period”).
The investigation focuses on whether the Company and its executives violated federal securities laws. On April 26, 2015, the Company reported that its Phase 2b CUPID2 trial of the MYDICAR program did not meet its primary and secondary endpoints. The Company had failed to disclose that success in CUPID1 trial was not indicative of any success in the CUPID2 trial since the CUPID1 trial was extremely small. After the announcement, Celladon share price declined rapidly, falling $10.78 or 78.80% during intraday trading, to close at $2.90 on April 27, 2015.
Furthermore, on June 26, 2015, Celladon reported the suspension of research and development of the MYDICAR program. Celladon had failed to disclose that the Company’s existence was tied to successful trial results and defendants were aware of the program’s limitations. On that same day, the Company announced the possibility of liquidation. Following this news, Celladon stock fell $0.85 or 38% to close at $1.35 per share on June 26.
If you invested in Celladon stock or options between July 7, 2014 and June 25, 2015 and would like to discuss your legal rights, please contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Celladon’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.