If you purchased shares of Celladon during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Glancy Prongay & Murray LLP ("GPM") announces the filing of a class action lawsuit on behalf of investors of Celladon Corporation ("Celladon" or the "Company") (NASDAQ:CLDN), who purchased shares between July 7, 2014 and June 25, 2015, inclusive (the "Class Period"). Celladon investors have until August 31, 2015 to file a motion to serve as lead plaintiff in the class action. Celladon is a clinical-stage biotechnology company which is focused on the development of cardiovascular gene therapy and calcium dysregulation. The Company's lead candidate is MYDICAR to treat inadequate pumping in heart failure patients. The complaint alleges that the Company potentially misled investors regarding the design of its MYDICAR clinical trials; and otherwise misled investors regarding the successful FDA approval of MYDICAR. On April 26, 2015, Celladon issued a press release announcing that the Company's Phase 2b CUPID2 trial of MYDICAR did not meet its primary and secondary goals. As a result of this news, the price of Celladon stock plummeted $11.04 per share to close at $2.64 per share on April 27, 2015, a decline of 80% on volume of 32 million shares. On June 1, 2015, Celladon issued a press release announcing the abrupt resignation of defendant Krisztina M. Zsebo ("Zsebo") as Chief Executive Officer ("CEO") and a director. Then, on June 26, 2015, before the market opened, Celladon issued a press release announcing the suspension of its plans for further research or development of its MYDICAR program and other pre-clinical programs, and indicating the possibility that the Company could be liquidated with net cash available to shareholders of $25-$30 million. As a result of this news, the price of Celladon stock dropped $0.85 per share to close at $1.35 per share on June 26, 2015, a decline of 38% on volume of 9 million shares