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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of September 27, 2018 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
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May 15, 2018 - The court preliminarily approved the settlement.
March 2, 2018 - A stipulation of settlement was filed by the parties.
August 28, 2017 - The court granted in part and denied in part defendants' motion to dismiss.
February 14, 2017 - A motion to dismiss the amended consolidated complaint was filed.
January 13, 2017 - An amended consolidated complaint was filed.
March 3, 2016 - An investor in shares of PTC Therapeutics Inc (NASDAQ: PTCT) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by PTC Therapeutics Inc in connection with certain allegedly false and misleading statements made between May 6, 2014 and February 23, 2016.
According to the complaint the plaintiff alleges on behalf of purchasers of PTC Therapeutics Inc (NASDAQ: PTCT) common shares between May 6, 2014 and February 23, 2016, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between May 6, 2014 and February 23, 2016, the defendants made allegedly false and/or misleading statements and/or failed to disclose that the Company’s NDA for Translarna that it submitted to the FDA was not sufficiently complete to permit a substantive review of the application, that, as such, the application would not be reviewed nor approved by the FDA, that the impending non-approval of the NDA would have a negative material impact on the Company’s operations and prospects, and that, as a result of the foregoing Defendants’ statements about PTC Therapeutics Inc’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. Shares of PTC Therapeutics Inc (NASDAQ: PTCT) grew from $15.07 per share in May 2014 to as high as $73.27 per share in March 2015.
On February 23, 2016, PTC Therapeutics Inc announced that it received a Refuse to File letter from the United States Food and Drug Administration (“FDA”) regarding PTC Therapeutics Inc's New Drug Application (“NDA”) for Translarna™ (ataluren), an oral, first-in-class, protein restoration therapy for the treatment of nonsense mutation Duchenne muscular dystrophy (“nmDMD”).
Shares of PTC Therapeutics Inc (NASDAQ: PTCT) declined to as low as $5.29 per share on March 1, 2016.