NEW YORK, July 6, 2012 /CNW/ - Faruqi & Faruqi, LLP, a leading national securities law firm, has filed a class action lawsuit in the United States District Court for the Southern District of New York, Case No. 12-Civ-4711, on behalf of all persons who purchased AEterna Zentaris Inc. ("AEterna" or the "Company") (NASDAQ GM: AEZS) securities between February 3, 2010 and April 1, 2012 inclusive (the "Class Period").
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AEterna, AEterna's Chief Executive Officer Juergen Engel and AEterna's Chief Financial Officer Dennis Turpin are charged with violations of Section 10(b) and/or 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, Plaintiff's complaint alleges that defendants misled investors about the timing and success of AEterna's clinical trial that tested whether the drug perifosine was effective in treating late stage colorectal cancer.
On April 2, 2012, AEterna shocked the market by disclosing that perifosine was ineffective in treating colorectal cancer. This news caused AEterna stock to drop approximately 66% by the close of the business day.
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Plaintiff now seeks to recover damages on behalf of himself and all other individual and institutional investors who bought AEterna securities between February 3, 2010 and April 1, 2012, excluding defendants and their affiliates. Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm with extensive experience in prosecuting class actions and actions involving corporate fraud.
If you purchased AEterna securities during the Class Period, and would like to discuss your legal rights, visit www.faruqilaw.com/AEZS. You can also contact us by calling Juan Monteverde, Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org, email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding AEterna's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan Monteverde, Esq.
Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
SOURCE Faruqi & Faruqi, LLP
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