SAN DIEGO and LEIDEN, Netherlands, July 22, 2014 /PRNewswire/ --Shareholder rights law firm Robbins Arroyo LLP announces that an investor of Prosensa Holding N.V. (NASDAQ: RNA) has filed a federal securities fraud class action complaint in the U.S. District Court for the Southern District of New York. The complaint alleges that the company and certain of its officers and directors violated the Securities Act of 1933 in connection with the company's June 28, 2013 initial public offering (the "IPO"). Prosensa Holding engages in the discovery and development of ribonucleic acid-modulating therapeutics for the treatment of genetic disorders.
Prosensa Holding Is Accused of Failing to Disclose Material Facts in Its Registration Statement
According to the complaint, on September 20, 2013, shares of Prosensa Holding fell $16.86 per share, or approximately 70%, to close at $7.14 per share, following an announcement by the company that drisapersen, the company's first and lead product candidate, failed to meet the primary endpoint of statistically significant improvement in the DEMAND-III study for treatment of Duchenne muscular dystrophy. The complaint alleges that Prosensa Holding's Registration Statement, filed in connection with the IPO, was materially inaccurate as it contained untrue statements of material fact and failed to disclose other required material information concerning the development status of drisapersen. Specifically, the Registration Statement failed to disclose significant injection site reactions experienced by patients receiving drisapersen injections during the company's DEMAND-II and DEMAND-III studies. The inflammation and discomfort to patients caused by drisapersen injection was atypical compared to the placebo and partially compromised the results of the Phase II study.
Prosensa Holding Investors Are Encouraged to Contact Shareholder Rights Law Firm Robbins Arroyo LLP
If you invested in Prosensa Holding and would like to discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the information form on the firm's shareholder rights blog: www.robbinsarroyo.com/shareholders-rights-blog/prosensa-holding-n-v
Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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Contact:
Darnell R. Donahue
Robbins Arroyo LLP
DDonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
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SOURCE Robbins Arroyo LLP
