Regulus Therapeutics Inc.
Period: Jan 21, 2016 to Jun 26, 2016
Lead Plaintiff Deadline: Apr 3, 2017
Summary of Case:
A securities class action has been filed against Regulus Therapeutics Inc. (NASDAQ:RGLS) on behalf of a class consisting of all persons or entities who purchased or otherwise acquired Regulus securities between January 21, 2016 through June 27, 2016. This case has been filed in the USDC - Southern District of California.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) patients treated with RG-101 were at increased risk of contracting jaundice; (ii) consequently, the Company had overstated RG-101's approval prospects and/or commercial viability; and (iii) as a result of the foregoing, Regulus's public statements were materially false and misleading at all relevant times.
On June 27, 2016, post-market, Regulus announced that it had received verbal notice from the U.S. Food and Drug Administration ("FDA") that the FDA had placed RG-101 on clinical hold after a second serious adverse event of jaundice was reported in a patient treated with the drug.
On this news, Regulus's share price fell $2.47, or more than 49%, to close at $2.54 on June 28, 2016.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.