NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, is notifying investors that a class action lawsuit has been filed against Solid Biosciences Inc. (“Solid Biosciences” or the “Company”) (NASDAQ:SLDB) and certain of its officers and directors for alleged violations of federal securities laws. If you acquired common stock of Solid Biosciences pursuant and/or traceable to the Company’s January 25, 2018 initial public offering (“IPO”) and/or acquired stock between January 25, 2018 and March 14, 2018, you are encouraged to contact a Scott+Scott attorney at (844) 818-6982 for more information.
Solid Biosciences is a biotechnology company that develops therapies and devices for patients with duchenne muscular dystrophy (“DMD”).
The lawsuit alleges that Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Solid Biosciences’ lead drug candidate SGT-001 had a high likelihood of causing adverse events in patients; (2) Solid Biosciences misled investors regarding the toxicity of SGT-001; and (3) 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.
On March 14, 2018, the Company announced it received notification from the U.S. Food and Drug Administration (“FDA”) that IGNITE DMD, its Phase I/II clinical trial for SGT-001 microdystrophin gene transfer in DMD, had been placed on Clinical Hold.
On this news, shares of Solid Biosciences fell $16.99 per share – over 64% – to close at $9.32 on March 15, 2018.
The Company held its IPO on January 26, 2018 at $16 per share; since then, the stock price has fallen nearly 47% as of market close on March 21, 2018.
What You Can Do
If you purchased Solid Biosciences securities in the IPO, or acquired stock between January 25, 2018 and March 14, 2018, inclusive, or if you have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at firstname.lastname@example.org. Investors have until May 28, 2018, to move for lead plaintiff.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.