NEW YORK, July 6, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a securities class action has been filed in the United States District Court for the Southern District of California on behalf of those who purchased shares of Celladon Corporation ("Celladon" or the "Company") (NasdaqGM: CLDN), during the period between July 7, 2014 and June 25, 2015 inclusive. (the "Class Period").
The Lawsuit alleges that during the Class Period, Defendants made false and misleading statements regarding and/or failed to disclose adverse information regarding the prospects for MYDICAR. Specifically the complaint alleges that: (i) success in the CUPID1 trial was not indicative of any success in the CUPID2 trial since the CUPID1 trial was extremely small; and (ii) the Company's existence was tied to the trial results and defendants were aware of their limitations.
On April 26, 2015, the Company announced that "its Phase 2b CUPID2 trial did not meet its primary and secondary endpoints. CUPID2 is a randomized, double-blind, placebo-controlled, multinational trial evaluating a single, one-time, intracoronary infusion of the cardiovascular gene therapy agent MYDICAR(R) (AAV1/SERCA2a) versus placebo added to a maximal, optimized heart failure drug and device regimen."
Following this news, shares of Celladon fell $10.78 or 78.80%, during intraday trading to trade at $2.90 on April 27, 2015.
Then on June 26, 2015, Celladon announced the suspension of research and development of its MYDICAR program and the possible liquidation of the company.
Following this news, Celladon stock fell $0.85 or 38% to close at $1.35 per share.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Celladon you have until August 31, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
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