Search
Search through the thousands of lawsuits, complaints and recalls on our site.

Vertex Allegedly Misrepresented Prospects for Success of VX-745

Report Fraud
Case ID: 2734 | Stocks | 01/05/2005

A class action has been filed against Vertex Pharmaceuticals Inc. (Nasdaq: VRTX) and certain of its officers and directors by stockholders who purchased the company's common stock between March 27, 2000, and September 24, 2001. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock.

The action alleges that the defendants concealed critical material information regarding the company's p38 mitogen-activated protein kinase ("MAPK") program, for Vertex development compound VX-745. The announcement on September 24, 2001 of the termination of the VX-745 drug development program caused Vertex's stock price to drop to as low as $17.74 from its time period high of $97.25, on record volume of over 9.8 million shares, causing hundreds of millions of dollars in damages to class members.


At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints.

Other Stocks Cases of Interest

According to the Complaint, Plaintiff brings this class action on behalf of all persons similarly situated, (the "Class"), other than Defendants and their affiliates, who (1) purchased or otherwise acquired the common shares of EnerNOC, Inc. ("EnerNOC" or the "Company) between November 1, 2007, through and including, February 27, 2008, (the "Class Period"); and/or (2) purchased or otherwise acquired EnerNOC common stock pursuant to Prospectus on Form 424B4 filed November 13, 2007 ("November 13 Prospectus") between November 13, 2007 through and including February 27, 2008, for violations of the federal securities laws. Plaintiff seeks to recover damages caused to the Class by Defendants' violations of Section 11 of the Securities Act of 1933 (the "Securities Act") and Section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act").
 
Several class actions have been filed against medical information technology systems company IMPAC Medical Systems, Inc. (Nasdaq:IMPCE), and certain of its officers and directors by stockholders who purchased the company's common stock between November 20, 2002, and May 13, 2004. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities.
 
Several class actions have been filed against worldwide gaming company Alliance Gaming Corporation (NYSE:AGI) and certain of its officers and directors by stockholders who purchased the company's common stock between January 15, 2004, and June 7, 2004. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities.
 
Several class actions have been filed against agricultural manufacturer AGCO Corporation (NYSE: AG) and certain of its officers and directors by stockholders who purchased the company's common stock between February 6, 2003, and February 5, 2004. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities.
 
A Motion to Dismiss the initial complaint was filed on April 7, 2008, by Arthrocare Corporation. In response, the Plaintiff's Motion to Stay the Motion to Dismiss was filed on April 11, 2008. In addition, certain individual defendants have filed a Motion to Dismiss on May 2, 2008. The motions are currently pending before the court.
 
InSPIRE Insurance Solutions and plaintiffs in three class actions against it have reached a consolidated settlement for 4.8 Million dollars. Under the terms of the settlement, InSPIRE will create an interest bearing 4.8 million dollar fund from which settlements will be disbursed to class action plaintiffs. The settlement will not become final until it has been reviewed and approved by the court at a fairness hearing scheduled for Match 9, 2005. Class members who want to participate in the settlement have until April 7, 2005 to file a proof of claim form. Proof of claim forms are available on the settlement site.
 
Become a LawCash Member - FREE!
'Find Money' E-Book
Weekly Email Alerts




privacy policy
YouNewz Beta
IT'S FREE

Report

Report Newz and easily upload your own newzworthy photos from your cell phone or computer to the web.

Share

Quickly share your photos with family, friends, co-workers, or the world with your own Newzpaper.

Read

Instantly find Newz and photos from other YouNewzers and read other YouNewzers Newzpapers.
 
Class Action Lawsuit Center || Product Recall Center || Consumer Complaint Center || About LawCash Link Exchange
Privacy Policy || Legal Policies || Terms & Conditions || Website Advertising Policy || Site Map || Top Lawsuits
LawCash® is a service of nola3, llc
© 2000 - 2008 Copyright. All rights reserved nola3, llc.

[ Home ]
LawCash
login
Justice is a click away.