SOURCE: Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP

October 31, 2013 16:33 ET

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses in Excess of $100,000 Investing in Ariad Pharmaceuticals, Inc. to Contact the Firm

NEW YORK, NY--(Marketwired - Oct 31, 2013) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Ariad Pharmaceuticals, Inc. ("Ariad" or the "Company") (NASDAQ: ARIA) of the December 9, 2013 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Ariad and certain executives.

A complaint has been filed on behalf of all persons who purchased Ariad securities between December 12, 2011 and October 8, 2013 (the "Class Period") in the District of Massachusetts.

The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects. Specifically, the action alleges that throughout the Class Period Ariad issued false and/or misleading statements and failed to disclose that Iclusig, the Company's leukemia drug, caused serious arterial thrombosis in a larger number of patients than previously disclosed.

On October 9, 2013, Ariad disclosed that its review of updated clinical data from the PACE trial of Iclusig showed that serious arterial thrombosis occurred in 11.8% of patients. Further, on October 18, 2013, Ariad announced that it was discontinuing the Phase 3 EPIC trial of Iclusig.

Then, on October 31, 2013, Ariad announced that the FDA asked it to stop marketing Iclusig and as a result, the Company will be suspending sales.

Following this news, the Company's stock declined $14.94 per share, or over 87%, to close at $2.20 per share on October 31, 2013.

Request more information now by clicking here: www.faruqilaw.com/ARIA. There is no cost or obligation to you.

Take Action

If you invested in Ariad stock or options between December 12, 2011 and October 30, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/ARIA. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com or fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Ariad's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.

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.

Contact Information

  • FARUQI & FARUQI, LLP
    369 Lexington Avenue, 10th Floor
    New York, NY 10017
    Attn: Richard Gonnello, Esq.
    Email Contact
    Francis McConville, Esq.
    Email Contact
    Telephone: (877) 247-4292 or (212) 983-9330