May 21, 2012
/PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Western District of
on behalf of investors who purchased Chelsea Therapeutics International Ltd. ("
" or the "Company") (Nasdaq: CHTP) stock between
November 3, 2008
March 28, 2012
For more information, click here: http://zlk.9nl.com/CHTP. There is no cost or obligation to you.
The complaint alleges that
made a series of materially false and misleading statements regarding the safety and efficacy of the drug Northera and the likelihood of its approval by the U.S. Food and Drug Administration ("FDA"). On
February 13, 2012
disclosed that the FDA had raised questions regarding the size and duration of its clinical trials for Northera. Furthermore, the FDA indicated that three deaths were potentially related to the drug. As a result of the aforementioned, shares of Chelsea stock declined more than 37 percent. Then on
March 28, 2012
, the Company announced that their New Drug Application for Northera was rejected by the FDA. Upon this news,
shares fell more than 28 percent, to close at
per share on
March 29, 2012
If you suffered a loss in
you have until
June 4, 2012
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. To obtain additional information, contact
Joseph E. Levi, Esq.
either via email at
or by telephone at (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in
and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY
10004 Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171
SOURCE Levi & Korsinsky