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Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Investor Investigation Over Potential Violations Of Securities Laws

  • If you purchased shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
Vertex Pharmaceuticals, Inc.
Security
NASDAQ: VRTX

Summary

May 31, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) shares over potential securities laws violations by certain officers and directors at Vertex Pharmaceuticals Incorporated in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements about Vertex Pharmaceuticals business, its prospects and its operations were potentially materially false and misleading at the time they were made.

Vertex Pharmaceuticals Incorporated reported that its annual Revenue surged from $143.37million in 2010 to $1,410.63million in 2011 and its Net Loss of $754.63million in 2010 turned into a Net Income of $29.57million in 2011.

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) rose from as low as $15.44 per share in March 2008 to as high as $57.48 on May 13, 2012.

Then on May 7, 2012, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) announced that the Interim Data from the Phase 2 Combination Study of its VX-809 and KALYDECO (ivacaftor) showed significant improvements in Lung Function (FEV1) in people with cystic fibrosis who have two copies of the F508del mutation.

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) jumped from $37.41 per share on May 7, 2012, to $64.16 per share on May 8, 2012.


However, on May 29, 2012, before the market opened, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) announced that it corrected and provided additional data from the recent interim analysis of Phase 2 Combination Study of VX-809 and KALYDECO (ivacaftor) in people with cystic fibrosis who have two copies of the F508del mutation.

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) dropped from $64.85 on Friday, May 25, 2012 to $50.51 per share on Tuesday, May 29, 2012.

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