LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of investors of Vertex Pharmaceuticals Incorporated (“Vertex” or the “Company”) (NASDAQ:VRTX) concerning possible violations of federal securities laws. The investigation is focused on certain statements issued by Vertex between May 7, 2012 and May 29, 2012, concerning the Company’s operations and financial prospects.
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Vertex is engaged in discovering, developing, manufacturing and commercializing small molecule drugs for patients with serious diseases. The Company markets Kalydeco in the United States and European Union as a treatment for patients aged six years and older with a rare form of cystic fibrosis. The investigation is related to allegations that the Company issued false and misleading public statements concerning Vertex’s products VX-809 and Kalydeco.
On May 29, 2012, the Company issued a correction of the interim analysis of the Phase 2 Combination Study of VX-809 and Kalydeco, stating that the correction was due to a “misinterpretation” between Vertex and a third-party statistical analysis vendor over the study data. Following this news, the Company’s stock price plummeted from its previous closing price of $64.85 on May 25, 2012, to close at $57.80 per share on May 29, 2012.
If you purchased Vertex securities between May 7, 2012 and May 29, 2012, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 122 East 42nd Street, Suite 2920, New York, NY 10168, at (646) 539-8980, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
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