San Diego, CA -- (SBWIRE) -- 10/14/2013 -- An investor, who purchased shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA), filed a lawsuit in the U.S. District Court for the District of Massachusetts over alleged violations of Federal Securities Laws by Ariad Pharmaceuticals, Inc. in connection with certain allegedly false and misleading statements made between December 12, 2011 and October 8, 2013.

If you purchased a significant amount of shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) between December 12, 2011 and October 8, 2013, and / or if you purchased NASDAQ:ARIA shares prior to 2012 and currently hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: December 9, 2013. NASDAQ:ARIA investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) between December 12, 2011 and October 8, 2013, that Ariad 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 claims that between December 12, 2011 and October 8, 2013, the defendants represented that the Company's leukemia drug Iclusig (ponatinib), based on its clinical data from its pivotal PACE trial of Iclusig, was safe and effective, without serious adverse events such as serious arterial thrombotic and cardiovascular events. Specifically, the plaintiff says that on December 11, 2011, ARIAD announced preliminary clinical data from the PACE trial, which purportedly yielded "strong clinical evidence of the anti-leukemic activity of ponatinib". Moreover, the Company touted the "favorable safety and tolerability profile of ponatinib". Based upon these representations, the Company achieved FDA approval for Iclusig on December 14, 2012.

Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) reported that its annual Total Revenue declined from $178.98 million in 2010 to $0.56 million in 2012 and that its Net Income of $85.25 million in 2010 declined to a Net Loss of $220.87 million in 2012.

Shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) decreased from as high as $25.16 per share in October 2012 to $16.32 per share in May 2013.

On Oct. 9, 2013, Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) announced results of its review of updated clinical data from the pivotal PACE trial of Iclusig®(ponatinib) and actions that it is taking following consultations with the U.S. Food and Drug Administration (“FDA”).

The plaintiff alleges that it was then when Ariad Pharmaceuticals revealed that the drug was shown to cause a higher rate of blood clots and heart-related side effects than previously disclosed

Shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) dropped from $18.06 per share on Oct. 8, 2013, to $4.02 per share on Oct. 9, 2013.

On Oct. 11, 2013, NASDAQ:ARIA shares closed at $4.26 per share, which is significantly below its current 52 week High of $25.40 per share.

Those who purchased shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com