NEW YORK and SAN DIEGO, July 13, 2015 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of a class of investors who purchased publicly traded securities of Celladon Corporation (“Celladon” or the “Company”) (Nasdaq:CLDN) between July 7, 2014 and June 25, 2015, inclusive. Wolf Haldenstein encourages all shareholders who suffered losses on securities purchased within the Class Period to contact us immediately at firstname.lastname@example.org or (800) 575-0735.
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 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 Celladon Corporation securities during the Class Period, you may, no later than August 31, 2015, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of all class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at email@example.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “Celladon Investigation.”
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Contact: Wolf Haldenstein Adler Freeman & Herz LLP Marisa Livesay, Esq. Gregory Stone, Director of Case and Financial Analysis Email: firstname.lastname@example.org, email@example.com or firstname.lastname@example.org Tel: (800) 575-0735 or (212) 545-4774 or (619) 239-4599
Source:Wolf Haldenstein Adler Freeman & Herz LLP