SAN DIEGO, July 13, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of shares of Celladon Corp (NASDAQ:CLDN) over alleged Violations of Federal Securities Laws by Celladon.
Investors who purchased a significant amount of shares of Celladon Corp (NASDAQ:CLDN) between July 7, 2014 and June 25, 2015 have certain options and for certain investors are short and strict deadlines running. Deadline: August 31, 2015. NASDAQ:CLDN investors should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The plaintiff claims that between July 7, 2014 and June 25, 2015 defendants made allegedly false and misleading statements and/or failed to disclose adverse information regarding the Company's prospects for its lead drug candidate, MYDICAR, for treating enzyme deficiency in heart failure patients that results in inadequate pumping of the heart and that as a result of these allegedly false and misleading statements or omissions, Celladon Corp securities traded at artificially inflated prices between July 7, 2014 and June 25, 2015.
On April 26, 2015, Celladon Corp reported negative results for CUPID2 trial of MYDICAR(R) in advanced heart failure. Celladon Corp said that its Phase 2b CUPID2 trial did not meet its primary and secondary endpoints.
On June 1, 2015, Celladon Corp issued a press release announcing the abrupt resignation of the Company's Chief Executive Officer.
Then, on June 26, 2015, before the market opened, Celladon Corp announced the suspension of its plans for further research or development of its MYDICAR program and other pre-clinical programs, indicating there was a possibility that the Company could be liquidated with net cash available to shareholders of $25-$30 million.
Shares of Celladon Corp (NASDAQ: CLDN) declined from as high as $27.26 per share in March 2015 to as low as $1.22 per share on July 6, 2015.
Those who purchased a significant amount of shares of Celladon Corp (NASDAQ:CLDN) shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at firstname.lastname@example.org or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT: Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554 email@example.com 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
Source:Shareholders Foundation, Inc.