NEW YORK, Feb. 2, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Regulus Therapeutics Inc. ("Regulus" or the "Company") (NASDAQ: RGLS) and certain of its officers, on behalf of a class who purchased Regulus securities between January 21, 2016 and June 27, 2016, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/rgls.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Regulus' business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) patients treated with RG-101 were at higher risk of contracting jaundice; (2) as a result, Regulus had exaggerated RG-101's approval prospects and/or commercial sustainability; and (3) consequently, Regulus's public statements were materially false and misleading at all relevant times.
On June 27, 2016, Regulus released that it had received notice from the U.S. Food and Drug Administration ("FDA") that its new drug for the treatment of chronic hepatitis C virus infection which was under FDA review, is now being put on clinical hold after a second serious case of jaundice was reported. Following this news, Regulus dropped $2.47 per share, or over 49%, to close at $2.54 on June 28, 2016.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: http://www.bgandg.com/rgls or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Regulus you have until April 3, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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SOURCE Bronstein, Gewirtz & Grossman, LLC