Navigation Links
Bernstein Liebhard LLP Announces That A Class Action Has Been Filed Against Ventrus Biosciences, Inc.
Date:5/10/2013

NEW YORK, May 10, 2013 /PRNewswire/ -- Bernstein Liebhard LLP today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of a class (the "Class") of purchasers of Ventrus Biosciences, Inc. ("Ventrus" or the "Company") (NASDAQ: VTUS) securities between December 17, 2010 and June 25, 2012 (the "Class Period").

(Logo: http://photos.prnewswire.com/prnh/20120202/MM47134LOGO

Ventrus is a development stage pharmaceutical company which is focused on late-stage prescription drugs for the treatment of gastrointestinal disorders, specifically hemorrhoids, anal fissures, and fecal incontinence.  Ventrus' lead products are topical treatments for hemorrhoids, which target a specific serotonin receptor.

Plaintiffs allege that, throughout the Class Period, the Company made false and/or misleading statements, as well as failed to disclose material adverse facts concerning the Company's lead product iferanserin (VEN 309) ("VEN 309").  The Company described VEN 309 as a new chemical entity for the topical treatment of symptomatic internal hemorrhoids.  The Company stated that in seven clinical studies between 1993 and 2003, VEN 309 demonstrated good tolerability and no severe adverse events while showing statistically significant improvements in bleeding, itchiness, and pain.

Specifically, during the Class Period the Company stated that it was in frequent and ongoing communications with the FDA, that clinical end points for the VEN 309 trial had been agreed to by the FDA, and that the prior results from Phase II trials of VEN 309 demonstrated the product's clinical efficacy. The Company represented its prior Phase IIb studies in Germany as evidence of VEN 309's efficacy and as support for their claims that FDA approval would be achieved. These false and misleading statements artificially inflated, maintained, and increased the price of Ventrus' common stock, reaching a high of $20.25 during the Class Period.

On June 25, 2012, Ventrus issued a press release announcing that VEN 309 failed its Phase III trial before the FDA, and that the Company would abandon further development of VEN 309, including any further attempt to obtain FDA approval. In response to this news, the price of Ventrus common stock plummeted over 50% -- to $5.02 per share on June 25, 2012, resulting in millions of dollars in damages to investors.

Plaintiffs seek to recover damages on behalf of all Class members who invested in Ventrus securities during the Class Period.  If you invested in Ventrus securities as described above during the Class Period, and either lost money on the transaction or still hold the stock, you may wish to join in this action to serve as lead plaintiff.  In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than July 8, 2013.

A "lead plaintiff" is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Under certain circumstances, one or more class members may together serve as lead plaintiff.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  You may retain Bernstein Liebhard LLP, or other counsel of your choice, to serve as your counsel in this action.

If you are interested in discussing your rights as a Ventrus shareholder and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or seidman@bernlieb.com.

Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients.  It has been named to The National Law Journal's "Plaintiffs' Hot List" in each of the last ten years.

You can obtain a copy of the complaint from the clerk of the court for the United States District Court for the Southern District of New York.

Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414
www.bernlieb.com

ATTORNEY ADVERTISING. © 2013 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
http://www.bernlieb.com
(212) 779-1414
seidman@bernlieb.com


'/>"/>
SOURCE Bernstein Liebhard LLP
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Bernstein Liebhard LLP Announces That A Securities Class Action Has Been Filed Against Aveo Pharmaceutical, Inc.
2. The law firms of Bernstein Litowitz Berger & Grossmann LLP and Labaton Sucharow LLP announce pendency of class action in In re Schering-Plough Corporation / ENHANCE Securities Litigation
3. Bernstein Liebhard LLP Announces That A Class Action Has Been Filed Against Abiomed, Inc.
4. Par Pharmaceutical Companies, Inc. Shareholder Alert: Bernstein Liebhard LLP Announces Investigation Of Acquisition By TPG
5. Amylin Pharmaceuticals, Inc. Shareholder Alert: Bernstein Liebhard LLP Announces Investigation Of Acquisition By Bristol-Myers Squibb Company
6. Watson to Present at the Sanford C. Bernstein 28th Annual Strategic Decisions Conference
7. Lilly Announces Enzastaurin Phase III Study Did Not Meet Primary Endpoint in Diffuse Large B-Cell Lymphoma
8. Echo Therapeutics Announces First Quarter 2013 Financial Results
9. Life Care Medical Devices Ltd Announces Addition Of Dublin, Ireland Based European Subsidiary
10. Creabilis Announces Headline Results of its Phase 2b Trial of Topical TrkA Kinase Inhibitor CT327
11. Omeros Announces $16.2 Million Registered Direct Offering of Common Stock
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... 2016 According to a new ... Pen Needles, Safety Pen Needles), Needle Length (4mm, 5mm, ... Mode of Purchase (Retail, Non-Retail) - Trends & Global ... the market for the forecast period of 2016 to ... Billion by 2021 from USD 1.65 Billion in 2016, ...
(Date:6/24/2016)... Tenn. , June 24, 2016  Arkis ... providing less invasive and more durable cerebrospinal fluid ... in funding.  The Series-A funding is led by ... Lighthouse Fund, and other private investors.  Arkis, new ... neurosurgical instrumentation and the market release of its ...
(Date:6/23/2016)... -- Any dentist who has made an implant supported denture ... of them do not even offer this as a viable ... costs involved. And those who ARE able to offer that ... cost that the majority of today,s patients would not be ... , founder of Dental Evolutions Inc. and inventor of Implanova ...
Breaking Medicine Technology:
(Date:6/26/2016)... ... ... Quality metrics are proliferating in cancer care, and are derived from many ... the beholder, according to experts who offered insights and commentary in the current issue ... the full issue, click here . , For the American Society of Clinical ...
(Date:6/26/2016)... ... , ... PawPaws brand pet supplements owned by Whole Health Supply ... health of felines. The formula is all-natural and is made from Chinese herbs that ... Cat Kidney Support Supplement Soft Chews are Astragalus Root Extract and Rehmannia Root ...
(Date:6/25/2016)... ... June 25, 2016 , ... Experts from the American ... Annual Research Meeting June 26-28, 2016, at the Hynes Convention Center in Boston. ... including advance care planning, healthcare costs and patient and family engagement. , AIR ...
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand ... project," said Christina Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s ... within Final Cut Pro X . Simply select a ProHand generator and drag ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. Calvin ... injury. Recently, he has implemented orthobiologic procedures as a method for treating his ... of the first doctors to perform the treatment. Orthobiologics are substances that orthopaedic ...
Breaking Medicine News(10 mins):