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:6/23/2016)... DUBLIN , June 23, 2016 ... the "Pharmaceutical Excipients Market by Type (Organic Chemical ... Preservative), Formulation (Oral, Topical, Coating, Parenteral) - Global Forecast ... The global pharmaceutical excipients ... 2021 at a CAGR of 6.1% in the forecast ...
(Date:6/23/2016)... 23, 2016 Capricor Therapeutics, ... a biotechnology company focused on the discovery, development ... patient enrollment in its ongoing randomized HOPE-Duchenne clinical ... 50% of its 24-patient target. Capricor expects the ... quarter of 2016, and to report top line ...
(Date:6/23/2016)... INDIANAPOLIS , June 23, 2016 /PRNewswire/ ... Diabetes Tomorrow,s Leaders Scholarship is any indication, the future ... today online at www.diabetesscholars.org by the Diabetes ... stand in the way of academic and community service ... scholarship program since 2012, and continues to advocate for ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... ... Austin residents seeking Mohs surgery services, can now turn to Dr. Jessica ... Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization to include Mohs ... Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction of Glenn Goldstein, ...
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture ... said Christina Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s package ... Final Cut Pro X . Simply select a ProHand generator and drag it ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, Dr. ... his M.D from the David Geffen School of Medicine at UCLA. He trained in ... to complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he ...
(Date:6/25/2016)... ... ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department of Health ... of their exemplary accomplishments in worksite health promotion. , The Wellness at Work Awards ... at the BWI Marriott in Linthicum Heights. iHire was one of 42 businesses to ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article published June ... with. The article goes on to state that individuals are now more comfortable seeking ... common operations such as calf and cheek reduction. The Los Angeles area medical group, ...
Breaking Medicine News(10 mins):