NEW YORK, Oct. 9, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Ariad Pharmaceuticals, Inc. ("Ariad" or the "Company") (NASDAQ: ARIA). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 237.
The investigation concerns whether Ariad and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. On Wednesday, October 9, 2013, Ariad announced that its leukemia drug Iclusig causes more blood clots and heart-related side effects than previously reported, forcing the company to halt enrollment in Iclusig clinical trials. The Food and Drug Administration placed a partial hold on the trials after results from one study found serious arterial thrombosis occurred in 11.8 percent of Iclusig-treated patients and cardiovascular events in 6.2 percent.
On this news, shares of Ariad fell $5.40 per share to more than 68.49% on intraday trading to a price of $11.74 on October 9, 2013.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP