NEW YORK, Oct. 14, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of investors who purchased ARIAD Pharmaceuticals, Inc. ("ARIAD" or the "Company") (Nasdaq:ARIA) stock between December 12, 2011 and October 8, 2013. The Complaint alleges that throughout the Class Period defendants made false and misleading statements regarding the safety and efficacy of the leukemia drug Iclusig.
For more information, click here: http://zlk.9nl.com/ariad-pharmaceuticals-aria.
On October 9, 2013, ARIAD announced that its leukemia drug Iclusig causes more side effects than previously reported; the Company also announced it would halt enrollment in its clinical trials and instruct current Iclusig users to lower their dosage. The Company disclosed that serious arterial thrombosis occurred in 11.8% of Iclusig-treated patients, and that 6.2% of the patients had cerebrovascular events. On this news, ARIAD shares declined $11.31 per share to close at $5.83 per share on October 9, 2013.
If you suffered a loss in ARIAD you have until December 9, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/ariad-pharmaceuticals-aria.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP