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Morgan & Morgan Announces an Investigation of Vertex Pharmaceuticals Incorporated (VRTX) (NASDAQ: VRTX) and Whether Senior Management and the Board of Directors Violated Fiduciary Duties Owed to Vertex Shareholders.



11/27/2012 9:42:39 AM

NEW YORK, Nov. 27, 2012 /PRNewswire/ -- Morgan & Morgan announces an investigation into whether certain officers and directors of Vertex breached their fiduciary duties to VRTX shareholders in connection with Vertex's recent public acknowledgement that it made inaccurate disclosures about the Phase 2 clinical studies of VX-909 and Kalydeco, two experimental drugs in clinical trials. No decision to file a lawsuit has been made. If you are a current shareholder of Vertex Pharmaceuticals and are interested in learning more about our Vertex (VRTX) shareholder lawsuit investigation, please contact George Pressly, Esq. at 1 (800) 631-6234 or email George at info@morgansecuritieslaw.com.

On May 7, 2012, Vertex issued a press release claiming that patients who received VX-909 and Kalydeco during a phase 2 clinical trial showed significant improvement in their lung functions. Published reports state that between May 7, 2012 and May 25, 2012, certain Vertex officers and directors sold over $22 million of their personally owned shares. On May 29, 2012, Vertex acknowledged publicly that the results from its clinical trials were not as positive as previously indicated. On June 27, 2012 Vertex admitted that the May 7th statements were simply inaccurate. Vertex's stock price declined significantly on the news.

About Morgan & Morgan
Morgan & Morgan is one of the nation's largest 200 law firms. In addition to securities law, the firm also practices in the areas of antitrust, personal injury, consumer protection, overtime, and product liability. All of the Firm's legal endeavors are rooted in its core mission: provide investor and consumer protection and always fight "for the people."

Attorney advertising. Prior results do not guarantee a similar outcome.

Contact:
Morgan & Morgan
Peter Safirstein, Esq.
Five Penn Plaza
23rd Floor
New York, NY 10001
1-800-631-6234
info@morgansecuritieslaw.com

SOURCE Morgan & Morgan


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