STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of a class who purchased Solid Biosciences Inc. (Nasdaq: SLDB) (“Solid” or the “Company”) securities pursuant and/or traceable to Solid’s false and misleading Registration Statement and Prospectus issued in connection with the Company’s initial public offering on or about January 25, 2018 and/or on the open market between January 25, 2018 and March 14, 2018, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until May 29, 2018 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Solid in connection with the Company’s IPO and/or during the Class Period. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 and the Securities Act of 1933 by virtue of the defendants’ failure to disclose in connection with the IPO and during the Class Period that Solid’s lead drug candidate SGT-001 had a high likelihood of causing adverse events in patients and the Company had misled investors regarding the toxicity of SGT-001.
According to the complaint, following a January 30, 2017 report revealing safety concerns linked to high doses of gene therapies using an adeno-associated virus (AAV) and a March 14, 2018 press release announcing a clinical hold on the Company’s study of SGT-001 after a patient experienced an unexpected adverse reaction, the value of Solid shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in Solid’s January 25, 2018 initial public offering and/or during the class period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please contact Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.