NEW YORK, April 28, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Ironwood Pharmaceuticals, Inc. ("Ironwood" or the "Company") (NASDAQ: IRWD). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Ironwood and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On April 26, 2016, Phase Five Research issued a report on the Company entitled "Uncovered: fatal issues linked with Ironwood's drug, Linzess." According to the Phase Five Research report, while Ironwood has stated that the side effects of Linzess are limited to the gastrointestinal tract, the drug's "side effects are not limited to the gastrointestinal (GI) tract," and the drug is causing "previously unknown, unreported and unlabeled severe systemic adverse events, including documented cases of rapid weight gain, renal failure, seizures and strokes."
On this news, Ironwood stock fell $0.60, or 5.53%, to close at $10.25 on April 26, 2016.
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
SOURCE Pomerantz LLP