SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP reminds investors of the September 16, 2014 lead plaintiff deadline in a securities class action lawsuit filed by the firm against Prosensa Holding N.V. (NASDAQ:RNA). The class action lawsuit was filed in the United States District Court for the Southern District of New York on behalf of the class (the “Class”). Those purchasers of the ordinary common shares of Prosensa pursuant and/or traceable to the Company's initial public offering (“IPO”) on or about June 28, 2013 and suffered significant losses are encouraged to contact Johnson & Weaver regarding your legal rights.
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.
Additional Information about the Lawsuit:
On September 20, 2013, less than three months after Prosensa’s June 2013 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, “There was no treatment difference in key secondary assessments of motor function: 10-meter walk/run test, 4-stair climb and North Star Ambulatory Assessment.”
On 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.
Prosensa and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
The Complaint alleges that the Registration Statement in Prosensa’s 2013 IPO 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.
Plaintiff seeks to recover damages on behalf of all purchasers of Prosensa publicly traded securities during the Class Period. If you wish to serve as a lead plaintiff, you must move the Court no later than September 16, 2014. If you wish to discuss this action, have any questions concerning this notice, or your rights or interests, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If you email, please include your phone number.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.