NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announced today that a class action lawsuit was filed in the United States District Court for the District of Massachusetts, against Solid Biosciences Inc. (“Solid” or the “Company”) (NASDAQ:SLDB) on behalf of investors that acquired Solid securities during the period from January 25, 2018 through March 14, 2018 (the “Class Period”), seeking recovery of damages for alleged violations of the federal securities laws. Investors have until May 29, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On January 30, 2018, various medical experts published an article 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, a treatment for Duchenne muscular dystrophy. One of the article’s co-authors was Dr. James Wilson, a former member of the Solid Biosciences’ advisory board. On this news, Solid’s share price fell from $23.70 to close at $22.50 on January 30, 2018 (a decline of $1.20).
Then, on March 14, 2018, post-market, Solid announced that the U.S. Food and Drug Administration placed a clinical hold on Solid’s SGT-001 Phase I/II clinical trial because of adverse events associated with the therapy. On this news, Solid’s share price fell from $26.31 to close at $9.32 on March 15, 2018 (a decline of $16.99).
If you purchased or otherwise acquired Solid securities, have information or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at telrod@kmllp.com, or by filling out this contact form to discuss your rights or interests in this litigation.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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