Faruqi & Faruqi, LLP reminds investors in Alnylam Pharmaceuticals, Inc. of the November 26, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
NEW YORK, Sept. 27, 2018 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Alnylam Pharmaceuticals, Inc. (“Alnylam” or the “Company”) (NASDAQ:ALNY) of the November 26, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Alnylam stock or options between February 15, 2018 and September 12, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/ALNY. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Alnylam securities between February 15, 2018 and September 12, 2018 (the “Class Period”). The case, Hull Leavitt v. Alnylam Pharmaceuticals, Inc. et al, No. 1:18-cv-08845 was filed on September 26, 2018.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose and/or misleading investors as to the efficacy and safety of its Onpattro (patisiran) lipid complex injection.
Specifically, on September 12, 2018, Nomura/Instinet analyst Christopher Marai issued a report that conveyed to the market the full significance of the Onpattro review document released by the Food and Drug Administration Center for Drug Evaluation and Research. The report stated that the Onpattro review document highlighted greater risk with respect to certain trials of Alnylam’s Onpattro (patisiran) lipid complex injection, demonstrated “a limited market opportunity in TTRcardiomyopathy,” and constituted “a potential platform safety risk.”
On this news, the Company’s stock price fell from $100.35 per share on September 11, 2018 to $94.75 per share on September 12, 2018—a $5.60 or 5.68% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Alnylam’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
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Company Codes: NASDAQ-NMS:ALNY
