| Company: | Sarepta Therapeutics, Inc. |
| Ticker Symbol: | SRPT |
| Class Period: | Jul-24-13 to Nov-12-13 |
| Date Filed: | Mar-3-14 |
| Lead Plaintiff Deadline: | May-2-14 |
| Court: | District of Massachusetts |
| Allegations: | |
The class action, filed in United States District Court, District of Massachusetts, and docketed under 14-cv-10225 is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Sarepta between July 24, 2013 and November 12, 2013 both dates inclusive (the "Class Period"). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
Sarepta is a biopharmaceutical company that focuses on the discovery and development of RNA-based therapeutics for the treatment of rare and infectious diseases.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made materially false or misleading statements concerning, among other things, (1) the prospects of the FDA's acceptance for consideration of a New Drug Application ("NDA") for eteplirsen, Sarepta's pharmaceutical to treat Duchenne muscular dystrophy, based on its Phase IIb study data set, and (2) the significance of that data set.
On November 11, 2013, shares of Sarepta declined sharply after the Company announced that it was told by the Food and Drug Administration, (FDA) not to file for accelerated approval of eteplirsen. On this news, shares of Sarepta fell $23.40 per share, more than 64.00%, on intraday trading, to a price of $13.16 on November 11, 2013.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
