INVESTOR ALERT: Investigation of Celladon Corp. Announced by Law Offices of Howard G. Smith
08 Julio 2015 - 1:14PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims on behalf of investors Celladon
Corporation (“Celladon” or the “Company”) (NASDAQ:CLDN) concerning
the Company’s and its officers’ possible violations of federal
securities laws.
Celladon is a clinical-stage biotechnology company which is
focused on the development of cardiovascular gene therapy and
calcium dysregulation. The Company’s lead candidate is MYDICAR to
treat inadequate pumping in heart failure patients. The
investigation concerns whether the Company potentially misled
investors regarding the design of its MYDICAR clinical trials; and
otherwise misled investors regarding the successful FDA approval of
MYDICAR.
On April 26, 2015, Celladon issued a press release announcing
that the Company’s Phase 2b CUPID2 trial of MYDICAR did not meet
its primary and secondary goals. As a result of this news, the
price of Celladon stock plummeted $11.04 per share to close at
$2.64 per share on April 27, 2015, a decline of 80% on volume of 32
million shares.
On June 1, 2015, Celladon issued a press release announcing the
abrupt resignation of defendant Krisztina M. Zsebo (“Zsebo”) as
Chief Executive Officer (“CEO”) and a director.
Then, on June 26, 2015, before the market opened, Celladon
issued a press release announcing the suspension of its plans for
further research or development of its MYDICAR program and other
pre-clinical programs, and indicating the possibility that the
Company could be liquidated with net cash available to shareholders
of $25-$30 million. As a result of this news, the price of Celladon
stock dropped $0.85 per share to close at $1.35 per share on June
26, 2015, a decline of 38% on volume of 9 million shares.
If you purchased shares of Celladon, have information or would
like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Howard G. Smith, Esquire,
of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847,
toll-free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20150708006244/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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