Celladon Corporation CLDN Securities Lawsuit

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Company: Celladon Corporation
Ticker Symbol: CLDN
Class Period: Jul-7-14 to Jun-25-15
Date Filed: Jul-6-15
Lead Plaintiff Deadline: Sep-4-15
Court: Southern District of California
New York, NY: A securities class action has been filed in the United States District Court for the Southern District of California on behalf of those who purchased shares of Celladon Corporation ("Celladon" or the "Company") (nasdaqgm:CLDN), during the period between July 7, 2014 and June 25, 2015 inclusive. (the "Class Period").

The Lawsuit alleges that during the Class Period, Defendants made false and misleading statements regarding and/or failed to disclose adverse information regarding the prospects for MYDICAR. Specifically the complaint alleges that: (i) success in the CUPID1 trial was not indicative of any success in the CUPID2 trial since the CUPID1 trial was extremely small; and (ii) the Company's existence was tied to the trial results and defendants were aware of their limitations.

On April 26, 2015, the Company announced that "its Phase 2b CUPID2 trial did not meet its primary and secondary endpoints. CUPID2 is a randomized, double-blind, placebo-controlled, multinational trial evaluating a single, one-time, intracoronary infusion of the cardiovascular gene therapy agent MYDICAR(R) (AAV1/SERCA2a) versus placebo added to a maximal, optimized heart failure drug and device regimen."

Following this news, shares of Celladon fell $10.78 or 78.80%, during intraday trading to trade at $2.90 on April 27, 2015. Then on June 26, 2015, Celladon announced the suspension of research and development of its MYDICAR program and the possible liquidation of the company. Following this news, Celladon stock fell $0.85 or 38% to close at $1.35 per share.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Celladon Corporation CLDN Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Celladon Corporation securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.

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