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Business Wire  07/01/2014 10:32 AM ET
INVESTOR ALERT: Class Action Lawsuit Against Vertex Pharmaceuticals Incorporated Announced by Glancy Binkow & Goldberg LLP

LOS ANGELES--(BUSINESS WIRE)--Jul. 1, 2014-- Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of a class (the “Class”) comprising all purchasers of the common stock of Vertex Pharmaceuticals Incorporated (“Vertex” or the “Company”) (NASDAQ:VRTX) between May 7, 2012 and May 29, 2012, inclusive (the “Class Period”).

Please contact us at (646) 539-8980, or at shareholders@glancylaw.com to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

Vertex is engaged in discovering, developing, manufacturing and commercializing small molecule drugs for patients with serious diseases. The Company markets Kalydeco in the United States and European Union as a treatment for patients aged six years and older with a rare form of cystic fibrosis. The Complaint alleges that the Company issued false and misleading public statements concerning Vertex's products VX-809 and Kalydeco.

On May 29, 2012, the Company issued a correction of the interim analysis of the Phase 2 Combination Study of VX-809 and Kalydeco, stating that the correction was due to a “misinterpretation” between Vertex and a third-party statistical analysis vendor over the study data. Following this news, the Company's stock price plummeted from its previous closing price of $64.85 on May 25, 2012, to close at $57.80 per share on May 29, 2012.

If you are a member of the Class described above, you may move the Court no later than July 28, 2014, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (646) 539-8980, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Source: Glancy Binkow & Goldberg LLP

Glancy Binkow & Goldberg LLP, New York, NY
Lesley Portnoy, 646-539-8980
shareholders@glancylaw.com
www.glancylaw.com

 

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