The Shareholders Foundation announces that an investor in NASDAQ:PETX shares filed a lawsuit over alleged violations of Federal Securities Laws by Aratana Therapeutics Inc.
Investors who purchased shares of Aratana Therapeutics Inc (NASDAQ:PETX) have certain options and for certain investors are short and strict deadlines running. Deadline: April 7, 2017. NASDAQ:PETX investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The plaintiff claims that the Defendants made false and/or misleading statements and/or failed to disclose that Aratana Therapeutics Inc did not have manufacturing contracts in place sufficient to support manufacturing of ENTYCE at a commercial scale, that consequently, ENTYCE was not likely to be commercially available until late 2017, that accordingly, Aratana Therapeutics Inc had misled investors with respect to the likely timeline for a commercial launch of ENTYCE, and that as a result of the foregoing, Aratana Therapeutics Inc’s public statements were materially false and misleading at all relevant times.
On February 6, 2017, Aratana Therapeutics Inc disclosed that the Center for Veterinary Medicine (“CVM”) had requested more information about the Company’s appetite stimulation drug ENTYCE. Aratana Therapeutics Inc advised investors that it “now anticipates that ENTYCE . . . will be commercially available by late 2017” and that the CVM’s request was “in connection with the Company’s post-approval supplement request to transfer the manufacturing of ENTYCE to a new vendor in order to produce ENTYCE at a commercial scale.” Shares of Aratana Therapeutics Inc (NASDAQ:PETX) declined to as low as $6.04 per share on February 8, 2017.
Those who purchased NASDAQ:PETX shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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