Apr 20, 2012, 07:15 ET
NEW YORK, April 20, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Chelsea Therapeutics International, Ltd. ("Chelsea" or the "Company") (Nasdaq: CHTP).
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The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) Chelsea's Northera (droxidopa) product, an orally-active synthetic precursor of norepinephrine being developed for the treatment of symptomatic neurogenic orthostatic hypotension, would not receive approval from the U.S. Food and Drug Administration; and (2) the Company's numerous statements regarding the safety and efficacy of the product, as well as reportedly positive results from Northera's clinical trials, were materially false and misleading.
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If you purchased Chelsea securities between November 3, 2008 and March 28, 2012 and would like to discuss your legal rights, visit www.faruqilaw.com/CHTP. 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 protected] or [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding Chelsea's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential matter.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
SOURCE Faruqi & Faruqi, LLP
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