Cases
Prothena Corporation plc
Securities Class Action
Overview
Overview
- Date:
- 5/29/2018
- Company Name:
- Prothena Corporation plc
- Stock Symbol:
- PRTA
- Class Period:
- FROM 10/15/2015 TO 4/20/2018
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Central California
NEW YORK, May 29, 2018 – Bragar Eagel & Squire, P.C. announces to investors that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Prothena Corporation plc (NASDAQ: PRTA) between October 15, 2015 and April 20, 2018 (the “Class Period”). Investors have until July 26, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that Defendants deliberately withheld relevant trial data – i.e., month-to-month data that showed patient response rates over a full study period – that cut against Defendants’ consistently positive statements. Instead, Prothena released only best response data selected to support Defendants’ representations regarding NEOD001’s efficacy. Second, Defendants made misleading comparisons of NEOD001’s best response rates to prior studies that evaluated patient response after a specified period of time, and without consistently identifying those studies. Third, Defendants touted the results of its ongoing Phase 1/2 trial as a strong predicate for the launch and likely success of the Phase 2b PRONTO study and Phase 3 VITAL study, despite knowing from the full results of the Phase 1/2 study that NEOD001 was not effective, particularly when evaluated under customary standards.
If you purchased or otherwise acquired Prothena Corporation securities during the Class Period or continue to hold shares purchased during the Class Period, have information, 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 Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below.
The complaint alleges that Defendants deliberately withheld relevant trial data – i.e., month-to-month data that showed patient response rates over a full study period – that cut against Defendants’ consistently positive statements. Instead, Prothena released only best response data selected to support Defendants’ representations regarding NEOD001’s efficacy. Second, Defendants made misleading comparisons of NEOD001’s best response rates to prior studies that evaluated patient response after a specified period of time, and without consistently identifying those studies. Third, Defendants touted the results of its ongoing Phase 1/2 trial as a strong predicate for the launch and likely success of the Phase 2b PRONTO study and Phase 3 VITAL study, despite knowing from the full results of the Phase 1/2 study that NEOD001 was not effective, particularly when evaluated under customary standards.
If you purchased or otherwise acquired Prothena Corporation securities during the Class Period or continue to hold shares purchased during the Class Period, have information, 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 Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below.