LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Aratana Therapeutics, Inc. (“Aratana” or the “Company”) (Nasdaq: PETX) concerning possible violations of federal securities laws between March 16, 2015 and February 3, 2017 (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the April 7, 2017 lead plaintiff motion deadline.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, Aratana made false and/or misleading statements and/or failed to disclose: that the Company did not have manufacturing contracts in place sufficient to support manufacturing of its appetite stimulation drug ENTYCE at a commercial scale; ENTYCE was not likely to be commercially available until late 2017; the Company had misled investors with respect to the likely timeline for a commercial launch of ENTYCE; and that as a result of the above, Aratana’s public statements were materially false and misleading at all relevant times.
On February 6, 2017, the Company disclosed that the Center for Veterinary Medicine requested more information about ENTYCE. Aratana told investors that it “now anticipates that ENTYCE … will be commercially available by late 2017” and that the CVM's demand was “in connection with the Company's post-approval supplement request to transfer the manufacturing of ENTYCE to a new vendor in order to produce ENTYCE at a commercial scale.” When this news was announced to the public, the value of Aratana stock declined, causing investors severe harm.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
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