NEW YORK, June 8, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Insmed, Inc. ("Insmed" or the Company) (NASDAQ: INSM). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Insmed and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On June 8, 2016, post-market, Insmed announced that it had withdrawn a European marketing application submitted to the European Medicines Agency ("EMA") for its lung disease drug Arikayce. The Company stated that the marketing application was based on data from a mid-stage clinical study that didn't support enough evidence for an approval from the EMA. Insmed stated that the Company will resubmit the application when data is available from a later study.
On this news, Insmed's share price fell $2.20, or more than 18% to $9.80 in after-hours trading.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, 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 80 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
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SOURCE Pomerantz LLP