NEW YORK, May 10, 2013 /PRNewswire/ -- Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC announces that a class action law suit was filed in the United States District Court for the Southern District of New York on behalf of purchasers of Ventrus Biosciences, Inc. ("Ventrus" or the "Company") (NasdaqCM: VTUS-News) common stock between December 17, 2010 and June 25, 2012 inclusive (the "Class Period"). The complaint charges Ventrus Biosciences, Inc. and certain of its officers and directors with violation of federal securities laws.
On June 25, 2012, Ventrus announced that the Company's experimental drug iferanserin, or VEN 309, failed its Phase III trial before the FDA because it "failed to demonstrate an improvement in therapy" in patients. The Company further disclosed that it was abandoning plans for further development of VEN 309, including any further attempt to obtain FDA approval. In response to this news, the price of Ventrus common stock declined over 50% from $12.26 at close of trading on June 22, 2012 to close at $5.02 per share on June 25, 2012.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact either Peretz Bronstein, Esq. or his investor relations coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. July 8, 2013 is the deadline for investors to seek a lead plaintiff appointment.
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.