An investigation for investors in NASDAQ:ARIA shares was announced over potential securities laws violations by Ariad Pharmaceuticals, Inc. and certain of its directors and officers.
Investors who purchased shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on whether a series of statements by Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) reported that its annual Total Revenue increased from $105.41 million in 2014 to $118.80 million in 2015 and that its Net Loss grew from $162.60 million in 2014 to $231.16 million in 2015.
Shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) decreased from as high as $4.72 per share in February 2016 to as high as $14.26 per share on September 28, 2016.
On October 6, 2016, a report was published with the title “How Ariad Pharma Used a Safety Problem to Jack Up a Cancer Drug’s Price,” in which it described the conditions Ariad Pharmaceuticals, Inc allegedly used to up its price for the leukemia drug Iclusig. The article continued to say that after the U.S. Food and Drug Administration (“FDA”) temporarily pulled Iclusig from the market, it did allow Iclusig to go back on the market with a reduced recommended dose and more restricted approved use. According to the article Ariad Pharmaceuticals, Inc then “embarked on a series of massive price increases” for its now-niche drug, “instead of reducing its price tag to reflect less benefit overall.”
On October 14, 2016 shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) closed at $11.14 per share.
Those who purchased NASDAQ:ARIA shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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