NEW YORK, Oct. 18, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Ariad Pharmaceuticals, Inc. ("Ariad" or the "Company") (NASDAQ: ARIA) of the December 9, 2013 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Ariad and certain executives.
A complaint has been filed on behalf of all persons who purchased Ariad securities between December 12, 2011 and October 8, 2013 (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that throughout the Class Period Ariad issued false and/or misleading statements and failed to disclose that Iclusig, the Company's leukemia drug, caused serious arterial thrombosis in a larger number of patients than previously disclosed.
On October 9, 2013, Ariad announced its review of updated clinical data from the PACE trial of Iclusig revealed that serious arterial thrombosis occurred in 11.8% of patients. Further, on October 18, 2013, Ariad announced that it was discontinuing the Phase 3 EPIC trial of Iclusig.
Following this news, the Company's stock declined $14.47 per share, or over 84%, to close at $2.67 per share on October 18, 2013.
Request more information now by clicking here: www.faruqilaw.com/ARIA. There is no cost or obligation to you.
If you invested in Ariad stock or options between December 12, 2011 and October 17, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/ARIA. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Ariad's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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