The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Celgene Corporation (NASDAQ: CELG) who purchased shares between January 12, 2015 and February 27, 2018. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
In particular, the CELG lawsuit alleges that (1) the trials for GED-0301 suffered from fatal design defects, such that GED-0301 had failed to demonstrate meaningful clinical efficacy; (3) the growth of Otezla sales had dramatically slowed during Celgene's third fiscal quarter of 2017; and (4) the clinical and nonclinical pharmacology data in Celgene's new drug application (NDA) for Ozanimod were insufficient to permit a complete review by the FDA, which resulted in the FDA issuing a refusal to file letter to Celgene regarding the NDA.
Shareholders have until May 29, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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