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SOURCE Morgan & Morgan
NEW YORK, Oct. 10, 2013 /PRNewswire/ -- Morgan & Morgan is investigating whether Ariad Pharmaceuticals Inc. ("Ariad" or the "Company") (ARIA) and certain of its officers violated the federal securities laws when making statements to investors regarding its experimental drug Iclusig.
On October 9, 2013, the Company updated the data from its PACE trial of Iclusig and revealed that the drug was shown to cause a higher rate of blood clots and heart-related side effects than previously disclosed. As a result, the FDA placed a hold on new patient enrollment for Iclusig testing, and the Company advised patients currently receiving the drug to lower their dosage.
Following this news, shares of Ariad fell $11.31, almost 66%, to close at $5.83 per share on October 9, 2013.
If you purchased Ariad and want more information about the Ariad Shareholder Investigation please contact George Pressly, Esq. at 1 (800) 631-6234 or email George at AskGeorge@morgansecuritieslaw.com.
About Morgan & Morgan
Morgan & Morgan is one of the nation's largest 200 law firms. In addition to securities fraud, the firm also practices in the areas of antitrust, personal injury, consumer protection, wage and hour, and product liability. All of the Firm's legal endeavors are rooted in its core mission: provide investor and consumer protection and always fight "for the people."
Attorney advertising. Prior results do not guarantee a similar outcome.
Morgan & Morgan
Peter Safirstein, Esq.
28 West 44th Street
New York, NY 10036
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