NEW YORK, May 15, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Ventrus Biosciences, Inc. ("Ventrus" or the "Company") who purchased Ventrus common stock between December 17, 2010 and June 25, 2012 (the "Class Period"). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237. The investigation concerns whether Ventrus and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. On June 25, 2012, Ventrus issued a press release announcing that VEN 309 failed its Phase III trial before the FDA, and that the Company would suddenly abandon further development of VEN 309, including any further attempt to obtain FDA approval. On this news, Ventrus shares declined $7.24 per share or over 50% from June 22, 2012 to close at $5.02 per share on June 25, 2012, resulting in millions of dollars in damages to investors. The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Ventrus Biosciences (VTUS) surged Thursday despite a lack of significant news on the company in much the same way other biotech stocks Prana Biotechnology (PRAN) and DARA Biosciences (DARA) had risen earlier in the week.