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Solid Biosciences Inc (NASDAQ: SLDB) Investor Securities Class Action Lawsuit 03/27/2018

  • If you purchased shares of Solid Biosciences Inc (NASDAQ: SLDB), you may have certain options. Please contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
Solid Biosciences Inc.
Security
NASDAQ: SLDB

Case Name
Solid Biosciences Shareholder Class Action Lawsuit 03/27/2018
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of Massachusetts

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

October 16, 2018 - The case was voluntarily dismissed.

March 27, 2018 - An investor in shares of Solid Biosciences Inc (NASDAQ: SLDB) filed a lawsuit in the U.S. District Court for the District of Massachusetts over alleged violations of Federal Securities Laws by Solid Biosciences Inc in connection with certain allegedly false and misleading statements made between January 25, 2018 and March 14, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Solid Biosciences Inc (NASDAQ: SLDB) common shares between January 25, 2018 and March 14, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between January 25, 2018 and March 14, 2018, the defendants failed to disclose that Solid Biosciences Inc’s lead drug candidate SGT-001 had a high likelihood of causing adverse events in patients, that Solid Biosciences Inc misled investors regarding the toxicity of SGT-001, and that, as a result of the foregoing, defendants’ statements in the Registration Statement regarding Solid Biosciences Inc’s business, operations, and prospects, were materially false and/or misleading.

Cambridge, MA based Solid Biosciences Inc, a life science company, engages in identifying and developing various therapies for duchenne muscular dystrophy in the United States. Its lead product candidate includes SGT-001, an adeno-associated viral vector-mediated gene therapy.

On January 30, 2018, an article was published by various medical experts highlighting the risks of studies using high doses of gene therapies using adeno-associated virus (AAV)-the delivery system used by Solid Biosciences Inc’s lead drug candidate SGT-001. One of the article’s co-authors was Dr. James Wilson, a former member of the Solid Biosciences Inc’s advisory board.

On March 14, 2018, Solid Biosciences Inc announced that its SGT-001 clinical trial had been put on hold by the Food and Drug Administration (“FDA”) due to an adverse reaction to the treatment by one of the trial patients.

Shares of Solid Biosciences Inc (NASDAQ: SLDB) declined from $28.81 per share on March 13, 2018 to $8.95 per share on March 15, 2018.