Navigation Links
Dreier LLP Announces Class Action Lawsuit Against Vertex Pharmaceuticals Incorporated (VRTX)
Date:3/20/2008

NEW YORK, March 20 /PRNewswire/ -- Dreier LLP (http://www.dreierllp.com) announces that a class action lawsuit was commenced in the U.S. District Court for the District of Massachusetts on behalf of investors who purchased Vertex Pharmaceuticals Incorporated ("Vertex" or the "Company") (Nasdaq: VRTX) publicly traded securities during the period from June 12, 2007 through November 2, 2007, inclusive (the "Class Period"). The Complaint alleges that Vertex and certain of the Company's officers and directors (collectively, the "Defendants") violated the Securities Exchange Act of 1934.

If you purchased Vertex publicly traded securities during the Class Period, you may be a member of the proposed Class. You must move the Court on or before May 12, 2008 if you wish to serve as a lead plaintiff. Lead plaintiffs must meet certain legal requirements. If you purchased Vertex publicly traded securities and want to discuss your legal rights, you may contact Bruce D. Bernstein (classlaw@dreierllp.com) of Dreier LLP at 800-952- 8897. Class members may retain counsel of their choice and move the Court to serve as a lead plaintiff, or may choose to do nothing and remain absent class members.

Vertex is a pharmaceutical company engaged in the discovery, development and commercialization of small molecule drugs for the treatment of serious diseases.

The Complaint alleges that, among other things, during the Class Period Defendants misled investors by making materially false and misleading statements concerning the development of Vertex's new HCV protease inhibitor: telaprevir or VX-950. Ultimately, Vertex intends to use the inhibitor in a new drug targeted at the treatment of hepatitis C. Among other things, the Complaint alleges that Defendants made positive statements concerning VX-950 and the Company's PROVE 2 trial while simultaneously failing to disclose unfavorable data uncovered during the PROVE 2 trial. On November 2, 2007, before the market closed, the Company disclosed the truth concerning the PROVE 2 trial. As a direct and proximate result of this news, the price of Vertex stock declined $2.74 per share to close at $28.90 per share, a one day decline of 9%, on extremely high trading volume.

Dreier LLP's Class Action Litigation Group has vast experience representing domestic and foreign institutional and individual investors in securities and other class actions throughout the country. The partners who head Dreier LLP's Class Action Litigation Group have successfully prosecuted securities fraud class actions in a wide variety of industries and have played a significant role in cases that have resulted in some of the largest securities class action settlements. Prior results do not guarantee a similar outcome. As of the date of this Notice, Dreier LLP has not filed a Complaint against Vertex.

Background on Dreier LLP

Dreier LLP was founded in 1996 by Marc Dreier as a more responsive and innovative alternative to traditional "large-firm" lawyering. Dreier LLP represents a wide range of institutional, entrepreneurial and individual clients in diverse sectors of financial, industrial and service-oriented markets. The firm's principal practices are commercial litigation, class action litigation, real estate, bankruptcy and corporate reorganization, employment, corporate and securities, entertainment, intellectual property, matrimonial and tax. Dreier LLP's Los Angeles affiliate, Dreier Stein Kahan Browne Woods George LLP, has its principal practice in entertainment and commercial litigation and corporate transactions. The firm's New York affiliate Schlesinger Gannon & Lazetera LLP has an extensive practice in the area of trusts and estates law. Pitta & Dreier LLP is an affiliate which specializes in labor law, and Pitta, Bishop, Del Giorno & Dreier LLP specializes in government relations. In the 12 years since its founding, Dreier LLP, with its affiliate members, has grown to more than 200 attorneys, with its principal office at 499 Park Avenue in Manhattan, and additional offices in Los Angeles and Santa Monica, California; Albany, New York; and Stamford, Connecticut.

Attorney advertising


'/>"/>
SOURCE Dreier LLP
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Blue Cross and Blue Shield of Illinois Announces Wellness Tools and Resources
2. Blue Cross and Blue Shield of Illinois Announces Campaign to Address Childhood Obesity
3. Blue Cross and Blue Shield of Illinois Announces 2007 Charitable Donations
4. IPC The Hospitalist Company Announces Board of Director Member Changes
5. MedCom Announces Court Rules Card Activation Technologies Patent Is Valid
6. Patrick G. Ryan Announces Intention to Retire from Aon
7. Pregis Announces Fouth Quarter and Full Year 2007 Financial Results
8. Takeda Announces New U.S. Leadership
9. QED International Associates Announces Quarterly Rebalancing of HealthShares(TM) Indexes
10. Galderma Announces HSR Clearance for Its Proposal to Acquire CollaGenex Pharmaceuticals
11. The Pennsylvania Breast Cancer Coalition Announces Event at the University of Pennsylvania Hospital to Celebrate the 2008 Income Tax Check-Off Campaign
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... , ... June 25, 2016 , ... Conventional wisdom preaches ... success. In terms of the latter, setting the bar too high can result in ... than just slow progress toward their goal. , Research from PsychTests.com ...
(Date:6/24/2016)... ... ... was in a crisis. Her son James, eight, was out of control. Prone to extreme ... “When something upset him, he couldn’t control his emotions,” remembers Marcy. “If there was ... other children and say he was going to kill them. If we were driving ...
(Date:6/24/2016)... ... June 24, 2016 , ... Comfort Keepers® of San Diego, CA is excited ... To Recovery® program to drive cancer patients to and from their cancer treatments. ... highest quality of life and ongoing independence. Getting to and from medical treatments ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Haute ... Dr. Barry M. Weintraub as a prominent plastic surgeon and the network’s newest ... world, and the most handsome men, look naturally attractive. Plastic surgery should be ...
(Date:6/24/2016)... ... June 24, 2016 , ... Venture Construction Group (VCG) ... held on June 20th at the Woodmont Country Club at 1201 Rockville Pike, Rockville, ... dedicated to helping service members that have been wounded in battle and their families. ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... 2016 Dehaier Medical Systems Ltd. (NASDAQ: ... markets and sells medical devices and wearable sleep respiratory ... strategic cooperation agreement with Hongyuan Supply Chain Management Co., ... June 20, 2016, to develop Dehaier,s new Internet medical ... Dehaier will leverage Hongyuan Supply Chain,s sales platform to ...
(Date:6/24/2016)... , June 24, 2016 ... Market by Type (Standard Pen Needles, Safety Pen Needles), ... (Insulin, GLP-1, Growth Hormone), Mode of Purchase (Retail, Non-Retail) ... MarketsandMarkets, This report studies the market for the forecast ... to reach USD 2.81 Billion by 2021 from USD ...
(Date:6/24/2016)...  Arkis BioSciences, a leading innovator in the ... cerebrospinal fluid treatments, today announced it has secured ... led by Innova Memphis, followed by Angel Capital ... Arkis, new financing will accelerate the commercialization of ... of its in-licensed Endexo® technology. ...
Breaking Medicine Technology: