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Aratana Therapeutics Inc (NASDAQ: PETX) Investor Securities Class Action Lawsuit 02/06/2017

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Lawsuit Overview

Case Dismissed
Company
Aratana Therapeutics Inc
Security
NASDAQ: PETX

Case Name
Aratana Therapeutics Shareholder Class Action Lawsuit 02/06/2017
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

June 11, 2018 - The court granted defendants' motion to dismiss with prejudice.

October 6, 2017 - Defendants filed a motion to dismiss.

August 7, 2017 - The lead plaintiffs filed an amended complaint on behalf of investors who purchased Aratana Therapeutics Inc (NASDAQ: PETX) common shares between March 16, 2015 and March 13, 2017. The lead plaintiffs allege that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between March 16, 2015 and March 13, 2017.

June 6, 2017 - Lead plaintiffs and lead counsel were appointed and all cases were consolidated.

April 7, 2017 - Lead plaintiff motions were filed.

February 6, 2017 - An investor in shares of Aratana Therapeutics Inc (NASDAQ: PETX) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Aratana Therapeutics Inc in connection with certain allegedly false and misleading statements made between March 16, 2015 and February 3, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Aratana Therapeutics Inc (NASDAQ: PETX) common shares between March 16, 2015 and February 3, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 16, 2015 and February 3, 2017 the defendants made false and/or misleading statements and/or failed to disclose that Aratana Therapeutics Inc did not have manufacturing contracts in place sufficient to support manufacturing of ENTYCE at a commercial scale, that consequently, ENTYCE was not likely to be commercially available until late 2017, that accordingly, Aratana Therapeutics Inc had misled investors with respect to the likely timeline for a commercial launch of ENTYCE, and that as a result of the foregoing, Aratana Therapeutics Inc’s public statements were materially false and misleading at all relevant times.

Leawood, KS based Aratana Therapeutics Inc is a pet therapeutics company focused on licensing, developing and commercializing of biopharmaceutical products for companion animals.

Shares of Aratana Therapeutics Inc (NASDAQ: PETX) reached as high as $19.73 per share in September 2015.

On February 6, 2017, Aratana Therapeutics Inc disclosed that the Center for Veterinary Medicine ( CVM ) had requested more information about the Company's appetite stimulation drug ENTYCE. Aratana Therapeutics Inc advised investors that it now anticipates that ENTYCE . . . will be commercially available by late 2017 and that the CVM's request was in connection with the Company's post-approval supplement request to transfer the manufacturing of ENTYCE to a new vendor in order to produce ENTYCE at a commercial scale.