NEW ORLEANS, March 30, 2018 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 29, 2018 to file lead plaintiff applications in a securities class action lawsuit against Celgene Corporation (NasdaqGS:CELG), if they purchased the Company’s shares between September 12, 2016 and February 27, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of New Jersey.
What You May Do
If you purchased shares of Celgene and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-celg/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 29, 2018.
About the Lawsuit
Celgene and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 19, 2017, the Company disclosed that it was discontinuing trials of its long-touted drug GED-0301 and recording a $1.6 billion impairment charge due to the drug’s failure. Then, on February 27, 2018, the Company revealed that the U.S. Food and Drug Administration had issued a refusal-to-file letter rejecting the New Drug Application (“NDA”) for Ozanimod, another of its leading drug candidates, because “the nonclinical and clinical pharmacology sections in the NDA were insufficient to permit a complete review.”
On this news, the price of Celgene’s shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
206 Covington St.
Madisonville, LA 70447