SECURITIES FRAUD ALERT: The Law Firm of Andrews & Springer LLC Announces That A Securities Fraud Class Action Has Been Filed ...
July 13 2015 - 8:03AM
Business Wire
Andrews & Springer LLC, a boutique securities class
action law firm focused on representing shareholders nationwide,
announced today that a securities fraud class action lawsuit has
been filed in the U.S. District Court, Southern District of
California, by another law firm on behalf of investors of Celladon
Corporation (NASDAQGM: CLDN) (“Celladon” or the “Company”) that
held shares between July 7, 2014 and June 25, 2015 (the “Class
Period”). If you purchased Celladon securities during the Class
Period or you held shares traceable to Celladon’s initial public
offering (“IPO”) on January 30, 2014, you may, no later than August
31, 2015, request that the Court appoint you lead plaintiff of the
proposed class.
A copy of the complaint is available from the Court or from
Andrews & Springer LLC. If you would like to join the class
action, please visit our website or contact Craig J. Springer, Esq.
at cspringer@andrewsspringer.com, or call toll free at
1-800-423-6013. You may also follow us on LinkedIn –
www.linkedin.com/company/andrews-&-springer-llc, Twitter –
www.twitter.com/AndrewsSpringer or Facebook -
www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The lawsuit alleges that Celladon made false and misleading
statements about MYDICAR, the Company’s leading investigational
drug for treating heart failure. Specifically, the complaint
alleges that: (1) the success in the CUPID1 trial of MYDICAR was
not indicative of any success in the CUPID2 trial since the CUPID1
trial was extremely small and (2) Celladon’s top executives were
aware of the limitations of the CUPID1 trial in predicting the
success of the CUPID2 trial. As a result, Celladon executives
caused Celladon securities to trade at artificially inflated prices
by improperly concealing the limitations of the CUPID1 trial.
On April 27, 2015, the truth about Celladon’s cover-up began to
be revealed when the Company announced that the trial failed to
show a significant treatment effect.
As a result of this news, Celladon’s stock price fell 80% and
closed at $2.64 per share, wiping out millions of market value and
causing millions in losses for investors.
If you wish to serve as lead plaintiff, you must move the Court
no later than August 31, 2015. A lead plaintiff is a
representative party acting on behalf of other class members in
directing the litigation. If you wish to join the litigation,
or to discuss your rights or interests regarding this class action,
please contact Craig J. Springer, Esq.
at cspringer@andrewsspringer.com, or call toll free at
1-800-423-6013. You may also follow us on LinkedIn –
www.linkedin.com/company/andrews-&-springer-llc, Twitter –
www.twitter.com/AndrewsSpringer or Facebook -
www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law
firm representing shareholders nationwide who are victims of
securities fraud, breaches of fiduciary duty or corporate
misconduct. Having formerly defended some of the largest financial
institutions in the world, our founding members use their valuable
knowledge, experience, and superior skill for the sole purpose of
achieving positive results for investors. These traits are the
hallmarks of our innovative approach to each case our Firm
decides to prosecute. For more information please visit our website
at www.andrewsspringer.com. This notice may constitute Attorney
Advertising.
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version on businesswire.com: http://www.businesswire.com/news/home/20150713005025/en/
Andrews & Springer LLCCraig J. Springer,
Esq.1-800-423-6013cspringer@andrewsspringer.com
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