A law office filed a securities class action lawsuit against the board of directors at a pharmaceuticals firm due to potential law violations.
Law firm Ryan and Maniskas noted it filed the lawsuit against The Medicines Company in the U.S. District Court for the District of New Jersey. This was for all shareholders who purchased the company's stock during the class period between Feb. 20, 2013, and Feb. 12, 2014.
The reason for the lawsuit was due to allegations that The Medicines Company's board of directors making multiple statements to shareholders that may have been either false or misleading. One point brought up in the lawsuit was that the company's drug Cangrelor was not superior to another drug on the market, Clopidogrel. The latter was already approved by the Food and Drug Administration. Additionally, The Medicines Company' clinical trials comparing the two drugs were not ethically completed.
Stockholders in The Medicines Company have an ability to become lead plaintiff in the case. In order to be approved, it is important for shareholders to file the correct paperwork with the court by April 22, 2014. This action is not mandatory, and shareholders who still want to collect can remain as a regular member of the class.
It is possible to speak with the law firm in order to learn more about the filing, as well as how it will affect shareholders. Richard Maniskas can be reached by email or telephone to answer these questions. Stockholders can also check out the law firm's website to find more information.
Second lawsuit filed
Another law firm noted that it filed a class action claim against The Medicines Company's board of directors for many of the aforementioned reasons.
Pomerantz, LLP, noted it filed a lawsuit against the company on behalf of its shareholders in the same district court. This was due to alleged violations of the Securities Exchange Act of 1934, specifically Sections 10(b), 20(a) and Rule 10b-5.
Shareholders are also welcome to speak with this law office about the recently filed lawsuit. Robert Willoughby is the best firm member to speak with, and he can be reached by email or telephone. It is important for shareholders to leave their mailing address, phone number and the total number of shares they own when sending an email.