San Diego, CA -- (SBWIRE) -- 07/31/2012 -- A deadline is coming up on August 14, 2012 in the lawsuit filed for investors of AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) against AEterna Zentaris Inc. over alleged securities laws violations in connection with certain statements regarding its the drug perifosine.
Investors with a substantial investment in AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) shares between February 3, 2010 and April 1, 2012,, should get active before the Deadline that is coming up on August 14, 2012, 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 Southern District of New York the plaintiff alleges on behalf of purchasers of AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) securities between February 3, 2010 and April 1, 2012, that AEterna Zentaris Inc. and its Chief Executive Officer and AEterna's Chief Financial Officer violated the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
Specifically, the plaintiff alleges that defendants mislead investors about the timing and success of AEterna Zentaris' clinical trial that tested whether the drug perifosine was effective in treating late stage colorectal cancer.
Then on April 2, 2012, Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ) announced that the Phase 3 "X-PECT" (Xeloda® + Perifosine Evaluation in Colorectal cancer Treatment) clinical trial evaluating perifosine + capecitabine (Xeloda®) in patients with refractory advanced colorectal cancer did not meet the primary endpoint of improving overall survival versus capecitabine + placebo.
Shares of AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) fell from $2.14 on March 30, 2012 to $0.68 per share on April 3, 2012 and continued to decline to as low as $0.382 per share on June 13, 2012.
On July 30, 2012, NASDAQ:AEZS shares closed at $0.407 per share.
Those who purchased shares of AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) between February 3, 2010 and April 1, 2012, have certain options and there are strict and short deadlines running. Deadline: August 14, 2012. NASDAQ:AEZS investors should contact the Shareholders Foundation, Inc.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego