SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky

January 04, 2016 12:24 ET

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Vital Therapies, Inc. of Filing of Class Action Lawsuit and a Lead Plaintiff Deadline of February 1, 2016 -- VTL

NEW YORK, NY--(Marketwired - January 04, 2016) - The following statement is being issued by Levi & Korsinsky, LLP:

You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of California on behalf of shareholders of Vital Therapies, Inc. ("Vital Therapies") (NASDAQ: VTL) who purchased their shares between April 17, 2014 and August 21, 2015.

The complaint alleges that throughout the class period, defendants issued materially false and misleading statements and/or failed to disclose material information regarding the Company's ELAD System studies, VTI-208, VTI-210, and VTI-212, including (a) the studies' independent significance; (b) the degree to which the studies were interrelated; and (c) that in the case of the failure of the VTI-208 trial, the Company would not continue the VTI-210 trial.

On August 21, 2015, after the market closed, Vital Therapies announced that the VTI-208 trial had "failed to meet the primary endpoint of overall survival through at least 91 days…" and that the Company would stop the VTI-210 and VTI-212 clinical trials. Upon this news, Vital Therapies shares plunged 73.4% to close at just $3.65 per share the next trading day.

If you suffered a loss in Vital Therapies you have until February 1, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/vital-therapies.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Eduard Korsinsky, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com