NEW YORK, NY / ACCESSWIRE / February 1, 2016 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a securities class action has been filed in the United States District Court for the Southern District of California on behalf of those who purchased shares of Vital Therapies, Inc. ("Vital Therapies" or the "Company") (NasdaqGS: VTL), during the period between April 17, 2014 and August 21, 2015 inclusive (the "Class Period"). More specifically, the plaintiff claims that SunEdison and certain corporate insiders made materially misleading misrepresentations and omissions regarding SunEdison's business and operations. Among other things, the lawsuit alleges that defendants misrepresented and failed to disclose that SunEdison did not have the financial resources to sustain its acquisition binge.
According to the Complaint, on August 21, 2015, after the market closed, the Company issued a press release announcing that the VTI-208 trial "failed to meet the primary endpoint of overall survival through at least 91 days[.]" The press release also announced that "[t]he Company will stop the VTI-210 and VTI-212 clinical trials, and also plans to meet with the FDA as soon as possible to discuss restructuring its clinical development program, including a potential new trial to confirm the information suggested by the subset analyses."
Following this news, shares of Vital Therapies fell over 79%, closing at $3.65 per share on August 24, 2015, on heavy trading volume.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint or to join this action, please visit the firm's site: http://www.bgandg.com/#!vital/tr616. To discuss this action, or for any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
