NEW YORK, Sept. 28, 2018 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of those who purchased or acquired the securities of Alnylam Pharmaceuticals, Inc. (“Alnylam” or the “Company”) ( ALNY) between February 15, 2018 and September 12, 2018, both dates inclusive (the “Class Period”). The lawsuit seeks to recover Alnylam shareholders’ investment losses.
If you purchased Alnylam securities, and/or would like to discuss your legal rights and options, please visit Alnylam Shareholder Class Action Lawsuit or contact Daniel Sadeh toll free at (877) 779-1414 or [email protected].
According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Alnylam overstated the efficacy and safety of its Onpattro (patisiran) lipid complex injection; and (2) as a result, Alnylam’s public statements were materially false and misleading at all relevant times.
On September 12, 2018, Nomura/Instinet analyst Christopher Marai stated that a review document released by the U.S. Food and Drug Administration’s (“FDA”) Center for Drug Evaluation and Research “highlights greater risk” with respect to certain trials of Alnylams’ ONPATTRO (patisiran) lipid complex injection, as well as “a limited market opportunity in TTRcardiomyopathy, and a potential platform safety risk.” Specifically, Marai asserted that “[t]he document highlights FDA reviewers’ concerns over cardiac deaths in patients treated with ONPATTRO and suggests that the drug should be limited to patients with polyneuropathy only (i.e., not patients with cardiac manifestations and polyneuropathy). Furthermore, we believe some comments on the lack of cardiac efficacy call into question claims made by [Alnylam] in this regard.”
On this news, Alnylam stock fell $5.60 per share, or over 5%, from its previous closing price to close at $94.75 per share on September 12, 2018, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than November 26, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased Alnylam securities, and/or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/alnylam-pharmaceuticals-inc-alny-lawsuit-class-action-fraud-stock-82/ or contact Daniel Sadeh toll free at (877) 779-1414 or [email protected].
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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Contact Information
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
[email protected]
