NEW ORLEANS--(BUSINESS WIRE)--ClaimsFiler, a FREE shareholder information service, reminds investors that they have until May 29, 2018 to file lead plaintiff applications in a securities class action lawsuit against Celgene Corporation (NasdaqGS: CELG), if they purchased the Company’s shares between January 12, 2015 and February 27, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of New Jersey.
Celgene investors should visit us at https://www.claimsfiler.com/cases/view-celgene-corporation-securities-litigation or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Celgene and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 19, 2017, the Company disclosed that it was discontinuing trials of its long-touted drug GED-0301 and recording a $1.6 billion impairment charge due to the drug’s failure. Then, on February 27, 2018, the Company revealed that the U.S. Food and Drug Administration had issued a refusal-to-file letter rejecting the New Drug Application (“NDA”) for Ozanimod, another of its leading drug candidates, because “the nonclinical and clinical pharmacology sections in the NDA were insufficient to permit a complete review.”
On this news, the price of Celgene’s shares plummeted.
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