Levi & Korsinsky is investigating potential claims on behalf of purchasers of Columbia Laboratories Inc. (“Columbia Labs” or the “Company”) (Nasdaq: CBRX) securities concerning possible violations of federal securities laws.
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The investigation concerns whether statements made by the Company and certain of its officers from December 14, 2011 to January 17, 2012 regarding the safety and effectiveness of the Company’s progesterone gel product Prochieve were materially false and misleading. On December 14, 2011, the Company issued a press release highlighting the purported results of clinical trials that showed that Prochieve “significantly reduces the risk of preterm birth and neonatal morbidity.” Following this announcement Columbia’s stock increased in price significantly. On January 17, 2012, however, the Food & Drug Administration released documents including trial data that indicates Prochieve is not effective. As a result, Columbia’s stock price tumbled over 50%, to $1.10, well below where it traded before the December 14, 2011 announcement.
If you own Columbia Labs stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. Attorney advertising. Prior results do not guarantee similar outcomes.