A lawsuit was filed on behalf of investors in Celladon Corp (NASDAQ:CLDN) shares over alleged securities laws violations and NASDAQ:CLDN investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/28/2015 -- An investor in shares of Celladon Corp (NASDAQ:CLDN), filed a lawsuit in the U.S. District Court for the Southern District of California over alleged violations of Federal Securities Laws by Celladon Corp.
Investors who purchased a significant amount of shares of Celladon Corp (NASDAQ:CLDN) between July 7, 2014 and June 25, 2015, have certain options and for certain investors are short and strict deadlines running. Deadline: August 31, 2015. NASDAQ:CLDN investors should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Celladon Corp (NASDAQ:CLDN) common shares between July 7, 2014 and June 25, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between July 7, 2014 and June 25, 2015 defendants made allegedly false and misleading statements and/or failed to disclose adverse information regarding the Company's prospects for its lead drug candidate, MYDICAR, for treating enzyme deficiency in heart failure patients that results in inadequate pumping of the heart. As a result of these false and misleading statements or omissions, Celladon securities traded at artificially inflated prices during the Class Period.
On June 1, 2015, Celladon issued a press release announcing the abrupt resignation of the Company's Chief Executive Officer. Then, on June 26, 2015, before the market opened, Celladon announced the suspension of its plans for further research or development of its MYDICAR program and other pre-clinical programs, indicating there was a possibility that the Company could be liquidated with net cash available to shareholders of $25-$30 million. Shares of Celladon Corp (NASDAQ:CLDN) declined to as low as $1.24 per share on June 26, 2015.
Those who purchased shares of Celladon Corp (NASDAQ:CLDN) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com