Company News »

INVESTOR ALERT: Glancy Binkow & Goldberg LLP Reminds Investors of the Lead Plaintiff Deadline in the Class Action Lawsuit Against Prosensa Holding N.V.

Business Wire
Share on StockTwits
Published on

Glancy Binkow & Goldberg LLP reminds investors of Prosensa Holding N.V. (“Prosensa” or the “Company”) (NASDAQ:RNA) that all persons and/or entities who purchased or otherwise acquired the ordinary shares of Prosensa pursuant and/or traceable to the Registration Statement and Prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s initial public offering on or about June 28, 2013, have until September 16, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.

Prosensa is a biotechnology company engaged in the discovery and development of therapeutics for the treatment of genetic disorders. The Company’s first and lead product candidate was drisapersen, which Prosensa was developing in collaboration with GlaxoSmithKline to address a variety of mutations resulting in inadequate production of dystrophin – a protein necessary for muscle function. The Complaint alleges that the Registration Statement misrepresented and/or omitted material information concerning drisapersen’s development status, the drug’s Phase II and Phase III clinical studies, and the prospects for drisapersen’s regulatory approval.

On September 20, 2013, the Company issued a joint press release with GlaxoSmithKline, disclosing that drisapersen had not met the primary endpoint in the Phase III study. According to the press release, “[t]here was no treatment difference in key secondary assessments of motor function.” As a result of this news, Prosensa stock declined approximately 70 percent, or $16.86 per share, on unusually heavy trading volume, to close on September 20, 2013 at $7.14 per share.

If you are a member of the Class described above, you may move the Court no later than September 16, 2014, to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by toll-free telephone at (888) 773-9224 or by telephone at (310) 201-9150, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Share on StockTwits