RADNOR, Pa.--(BUSINESS WIRE)--Kaskela Law LLC announces that a shareholder class action complaint has been filed against Solid Biosciences, Inc. (NASDAQ: SLDB) (“Solid Biosciences” or the “Company”) on behalf of purchasers of the Company’s securities between January 25, 2018 and March 14, 2018, inclusive (the “Class Period”).
DEADLINE NOTICE: Investors who purchased Solid Biosciences securities during the Class Period may, no later than May 29, 2018, seek to be appointed as a lead plaintiff representative of the investor class.
Solid Biosciences investors are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740 to discuss their legal rights and options with respect to this action and/or visit www.kaskelalaw.com/case/solid-biosciences-inc/ to submit their information for review.
On or around January 25, 2018, Solid Biosciences completed an initial public offering (“IPO”) of its common stock, selling 7,000,000 shares of stock to investors at $16.00 per share.
On March 14, 2018, Solid Biosciences disclosed that the U.S. Food and Drug Administration had placed a clinical hold on its SGT-001 Phase I/II clinical trial, IGNITE DMD. Following this news, shares of Solid Biosciences’ common stock fell $16.99 per share, or over 60%, to close on March 15, 2018 at $9.32.
The shareholder class action complaint alleges that Solid Biosciences and certain other defendants made a series of false and misleading statements and/or failed to disclose to investors that: (i) Solid Biosciences’ lead drug candidate, SGT-001, had a high likelihood of causing adverse events in patients; and (ii) Solid Biosciences had misled investors regarding the toxicity of SGT-001. The complaint further alleges that, as a result of the foregoing, investors purchased Solid Biosciences’ common stock at artificially inflated prices during the Class Period and sustained significant investment losses following the Company’s March 14, 2018 disclosures.
Investors are encouraged to contact Kaskela Law LLC to discuss this action prior to the deadline. Kaskela Law LLC exclusively prosecutes shareholder actions in state and federal courts throughout the country on behalf of investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.