Energy News / Shareholders Foundation, Inc.

Deadline Upcoming in $3.5 Million Settlement in the Ariad Pharmaceuticals Inc (NASDAQ:ARIA) Investor Lawsuit

Via: ReleaseWire

Updated 12:15 PM CDT, Wed, April 25,2018

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Ariad Pharmaceuticals Inc (NASDAQ: ARIA) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on April 26, 2018 and NASDAQ: ARIA investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 04/25/2018 -- A deadline is coming up on April 26, 2018 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Ariad Pharmaceuticals Inc (NASDAQ: ARIA) between December 11, 2012 and December 14, 2012.

Investors who purchased a significant amount of shares of Ariad Pharmaceuticals Inc (NASDAQ: ARIA) between December 11, 2012 and December 14, 2012, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the Ariad Pharmaceuticals Inc (NASDAQ: ARIA) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/ariad-pharmaceuticals-inc-nasdaq-aria-investor-securities-class-action-lawsuit-10102013

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is April 26, 2018. The class action administrator for this case is Epiq Systems Inc.

The lawsuit was originally filed in the U.S. District Court for the District of Massachusetts against Ariad Pharmaceuticals Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between December 12, 2011 and October 8, 2013. According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Ariad Pharmaceuticals Inc (NASDAQ: ARIA) between December 12, 2011 and October 8, 2013, that Ariad Pharmaceuticals Inc and certain of its officers and directors violated federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff claims that between December 12, 2011 and October 8, 2013, the defendants represented that Ariad Pharmaceuticals Inc's leukemia drug Iclusig® (ponatinib), based on its clinical data from its pivotal PACE trial of Iclusig, was safe and effective, without serious adverse events such as serious arterial thrombotic and cardiovascular events. Specifically, the plaintiff says that on December 11, 2011, Ariad Pharmaceuticals Inc announced preliminary clinical data from the PACE trial, which purportedly yielded "strong clinical evidence of the anti-leukemic activity of ponatinib". Moreover, Ariad Pharmaceuticals Inc touted the "favorable safety and tolerability profile of ponatinib". Based upon these representations, Ariad Pharmaceuticals Inc achieved FDA approval for Iclusig on December 14, 2012.

Those who purchased shares of Ariad Pharmaceuticals Inc (NASDAQ: ARIA) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/deadline-upcoming-in-35-million-settlement-in-the-ariad-pharmaceuticals-inc-nasdaqaria-investor-lawsuit-968231.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com