A lawsuit was filed on behalf of investors in Vital Therapies Inc (NASDAQ:VTL) shares over alleged securities laws violations and NASDAQ:VTL investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/05/2016 -- A shareholder in Vital Therapies Inc (NASDAQ:VTL), filed a lawsuit over alleged violations of Securities Laws by Vital Therapies Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Vital Therapies Inc (NASDAQ:VTL) between April 17, 2014 and August 21, 2015, have certain options and for certain investors are short and strict deadlines running. Deadline: February 1, 2016. NASDAQ:VTL investors should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The plaintiff claims that between April 17, 2014 and August 21, 2015 the defendants issued allegedly materially false and misleading statements and/or allegedly failed to disclose material information regarding Vital Therapies' ELAD System studies, VTI-208, VTI-210, and VTI-212, including (a) the studies' independent significance; (b) the degree to which the studies were interrelated; and (c) that in the case of the failure of the VTI-208 trial, the Company would not continue the VTI-210 trial.
On July 14, 2015, a report was published alleging that Vital Therapies Inc's representations regarding the 90 day overall survival rate for those treated with Vital Therapies' Extracorporeal Liver Assist Device ("ELAD") were highly misleading, as they allegedly included survival data from a patient who received a liver transplant, while no equivalent patient in the control group had received a transplant. The report alleged that this fact was not disclosed in any of the Company's prior disclosures concerning the Phase 2 VTI-206 study of ELAD.
On August 21, 2015, after the market closed, Vital Therapies announced that the VTI-208 trial had "failed to meet the primary endpoint of overall survival through at least 91 days…" and that the Company would stop the VTI-210 and VTI-212 clinical trials. Shares of Vital Therapies Inc (NASDAQ:VTL) declined to as low as $2.81 per share on August 26, 2015.
Those who purchased shares of Vital Therapies Inc (NASDAQ:VTL) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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