NEW YORK, Aug. 27, 2015 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Vital Therapies, Inc. ("Vital" or the "Company") (NASDAQ: VTL), concerning whether the board has breached its fiduciary duties to shareholders.
In July 2014, a blog post on SeekingAlpha.com alleged that Vital had misrepresented issues with the overall survival rate in a clinical trial involving its ELAD systems product candidate. On this news Company stock fell approximately 14%. Then, on August 21, 2015, the Company released topline results from the ELAD systems study and reported that it failed to achieve the primary or secondary endpoints of improving overall survival. On this news Vital stock fell almost 80%.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own Vital shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq. Samuel K. Rosen, Esq. Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400 (212) 935-7400 Email: firstname.lastname@example.org email@example.com Website: http://www.hfesq.com Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP