BOSTON, Feb. 24, 2016 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, is investigating possible violations of the federal securities laws by PTC Therapeutics, Inc. (NASDAQ: PTCT) ("PTC" or the "Company") and/or its officers and directors.
Shares of PTC Therapeutics plummeted yesterday by over 60% after the Company announced that it had received a "refusal to file" letter from the FDA regarding its New Drug Application (NDA) for its lead drug candidate, Translarna.
Analysts describe refusal-to-file letters as "rare and embarrassing" and issued only when "the application was not sufficiently complete to permit a substantive review." Notably, insiders at PTC Therapeutics have been engaging in significant sales of their PTC shares prior to this news.
Block & Leviton's investigation seeks to determine whether PTC and/or any of its officers or directors violated federal securities laws in connection with disclosures concerning the NDA process for Translarna.
If you have purchased shares in PTC Therapeutics and have questions about your legal rights, or if you have information relevant to this investigation, please contact attorney Joel Fleming, at (617) 398-5600 or email him at [email protected].
Block & Leviton is a Boston-based law firm representing investors nationwide for violations of securities laws. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 70 years. This notice may constitute attorney advertising.
BLOCK & LEVITON LLP
Joel Fleming, Esq.
SOURCE Block & Leviton LLP