A Deadline is coming up on December 9, 2013 in the lawsuit for investors in Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) and NASDAQ:ACHN stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 11/20/2013 -- A deadline is coming up on December 9, 2013 in the lawsuit filed for investors of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) over alleged seucirities laws violations by Achillion Pharmaceuticals. in connection with certain statements made regarding its investigative drug for the treatment of hepatitis, sovaprevir.
Investors with a substantial investment in Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) shares between April 21, 2012 and September 27, 2013, should get active before the Deadline that is coming up on December 9, 2013, and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the District of Connecticut the plaintiff alleges on behalf of purchasers of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) between April 21, 2012 and September 27, 2013, that Achillion Pharmaceuticals, Inc. and certain of its officers and directors violated federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
More specifically, the plaintiff alleges that the Company misled investors to believe that even though patients in the Company's clinical trials for sovaprevir had elevations in liver enzymes, that these liver enzymes elevations were transient and returned to baseline values and were attributable to non-drug-related factors.
On Sept. 27, 2013 Achillion Pharmaceuticals, Inc. provided an update on development of compounds in its pipeline of therapies for the treatment of chronic hepatitis C virus, or HCV. Achillion Pharmaceuticals, Inc said that on Sept. 27, 2013 it received a response from the U. S. Food and Drug Administration (”FDA”), on the clinical hold related to sovaprevir, Achillion Pharmaceuticals' NS3 protease inhibitor. Achillion Pharmaceuticals, Inc said that the FDA response indicated that, while Achillion Pharmaceuticals' submission addressed all issues noted in the FDA's June 29, 2013 letter, the FDA concluded that the removal of the clinical hold is not warranted.
Shares of Achillion Pharmaceuticals, Inc dropped from $7.40 per share on Sept. 27, 2013, to as low as $2.44 per share on November 7, 2013.
On November 19, 2013, NASDSQ:ACHN shares closed at $2.55 per share.
Those who purchased shares of Achillion Pharmaceuticals, Inc. have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego