SOURCE: Kahn Swick & Foti, LLC

May 09, 2013 22:20 ET

VENTRUS BIOSCIENCES SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Ventrus Biosciences, Inc. - VTUS

NEW ORLEANS, LA--(Marketwired - May 9, 2013) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 8, 2013 to file lead plaintiff applications in a securities class action lawsuit against Ventrus Biosciences, Inc. (NASDAQ: VTUS), if they purchased the Company's securities during the period between December 17, 2010 and June 25, 2012, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.

What You May Do

If you purchased shares of Ventrus Biosciences and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com) toll free at 1-877-515-1850. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 8, 2013.

About the Lawsuit

Ventrus Biosciences and certain of its executives are charged with issuing materially false and misleading statements during the Class Period, in violation of federal securities laws. 

On June 25, 2012, Ventrus announced that the Company's experimental drug iferanserin, or VEN 309, failed its Phase III trial before the FDA because it "failed to demonstrate an improvement in therapy" in patients. The Company further disclosed that it was abandoning plans for further development of VEN 309, including any further attempt to obtain FDA approval. In response to this news, the price of Ventrus common stock declined drastically, falling over 50% from $12.26 at close of trading on June 22, 2012 to close at $5.02 per share on June 25, 2012.

About Kahn Swick & Foti, LLC

To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.

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