An investor in NASDAQ:RGLS shares filed a lawsuit over alleged violations of Federal Securities Laws by Regulus Therapeutics Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Regulus Therapeutics Inc (NASDAQ:RGLS) have certain options and for certain investors are short and strict deadlines running. Deadline: April 3, 2017. NASDAQ:RGLS investors should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Regulus Therapeutics Inc (NASDAQ:RGLS) common shares between January 21, 2016 and June 27, 2016, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between January 21, 2016 and June 27, 2016 the Defendants made false and/or misleading statements and/or failed to disclose that patients treated with RG-101 were at increased risk of contracting jaundice, that consequently, the Company had overstated RG-101’s approval prospects and/or commercial viability, and that as a result of the foregoing, Regulus’s public statements were materially false and misleading at all relevant times.
Regulus Therapeutics Inc reported that its annual Total Revenue rose from $7.67 million in 2014 to $20.76 million in 2015 and that its Net Loss declined from $56.68 million in 2014 to $55.75 million in 2015.
Shares of Regulus Therapeutics Inc (NASDAQ:RGLS) reached as high as $22.08 per share in 2014 and as high as $20.70 per share in 2015.
On June 27, 2016, Regulus Therapeutics Inc announced during aftermarket hours that it received verbal notice from the U.S. Food and Drug Administration (“FDA”) that the FDA had placed the Regulus Therapeutics’ investigational new drug for the treatment of chronic hepatitis C virus infection on clinical hold after a second serious adverse event of jaundice was reported.
Shares of Regulus Therapeutics Inc declined on June 28, 2016 to as low as $2.44 per share.
Those who purchased NASDAQ:RGLS shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
[email protected]
The post NASDAQ:RGLS Investor Notice: Lawsuit alleges Misleading Statements by Regulus Therapeutics Inc appeared first on GroundReport.
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