LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court District of Massachusetts on behalf of persons and entities that acquired Solid Biosciences Inc. (“Solid Biosciences” or the “Company”) (NASDAQ: SLDB) securities between January 25, 2018, and March 14, 2018, inclusive (the “Class Period”). Solid Biosciences investors have until 60 days from the date of this notice to file a lead plaintiff motion.
To obtain information or actively participate in the class action, please visit the Solid Biosciences page on our website at www.glancylaw.com/case/solid-biosciences-inc. Investors that suffered losses on their Solid Biosciences investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to firstname.lastname@example.org.
On January 30, 2018, an article was published by various medical experts highlighting the risks of studies using high doses of gene therapies using adeno-associated virus (AAV)-the delivery system used by Solid Biosciences’ lead drug candidate SGT-001. One of the article’s co-authors was Dr. James Wilson, a former member of the Solid Biosciences’ advisory board. On this news the Company’s shares fell $1.20 per share, or over 5%, to close on January 30, 2018 at $22.50 per share.
Then on March 14, 2018, the Company announced that the U.S. Food and Drug Administration (“FDA”) had placed a clinical hold on the SGT-001 Phase I/II clinical trial, IGNITE DMD, because of adverse events associated with the therapy. On this news, Solid Biosciences’ share price fell $16.99 per share, or over 60%, to close at $9.32 per share on March 15, 2018, thereby injuring investors.
The complaint filed in this class action alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that Solid Biosciences’ lead drug candidate SGT-001 had a high likelihood of causing adverse events in patients; (2) that Solid Biosciences misled investors regarding the toxicity of SGT-001; and (3) that, as a result of the foregoing, Defendants’ statements in the Registration Statement regarding Solid Biosciences’ business, operations, and prospects, were materially false and/or misleading.
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If you purchased shares of Solid Biosciences during the Class Period you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, 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 GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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