Levi & Korsinsky announces the filing of a class action lawsuit in the USDC for the District of New Jersey on behalf of shareholders of PTC Therapeutics, Inc. (NASDAQ: PTCT) who purchased shares between May 7, 2014 and February 29, 2016.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period. According to the Complaint, on February 23, 2016, PTC announced that it received a Refuse to File letter from the United States Food and Drug Administration (“FDA”) regarding the New Drug Application for Translarna. The FDA stated in the Refuse to File letter that the application was not sufficiently complete to permit a substantive review. On this news, shares of PTC fell over 61%, closing at $10.84 per share on February 23, 2016, on heavy trading volume.
If you suffered a loss in PTC you have until May 2, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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