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Provider: ValuEngine, Inc.
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Bernstein Liebhard LLP Announces Class Action Filed Against Achillion Pharmaceuticals, Inc

Thursday, 17 Oct 2013 12:25pm EDT 

Bernstein Liebhard LLP announced that a class action has been commenced in the United States District Court for the District of Connecticut on behalf of all those (the Class) who purchased securities of Achllion Pharmaceuticals, Inc. (Achillion or the Company) between April 21, 2012 and September 27, 2013, inclusive (the Class Period). The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects, including the safety and suitability of its investigative drug for the treatment of hepatitis, sovaprevir. Defendants failed to inform investors that sovaprevir in fact did not interact well with other drugs commonly administered to treat hepatitis and/or HIV. Specifically, the Company misled investors to believe that even though patients in the Company's clinical trials for sovaprevir had elevations in liver enzymes, these liver enzymes elevations were transient and returned to baseline values and were attributable to non-drug-related factors. As a result of the foregoing, the Company's statements were materially false and misleading at all relevant times. 

Company Quote

-0.07 -0.76%
6 May 2015