Vertex Pharmaceuticals (VRTX) Shareholder Lawsuit
Vertex Pharmecuticals (VRTX) Shareholder Investigation Summary
On May 7, 2012, Vertex told the publical that results from clinical trials showed that patients who received VX-909 and Kalydeco during phase 2 clinical trial showed significant improvement in their lung functions. Between May 7, 2012 and May 25, 2012, certain Vertex officers and directors sold over $22 million of their personally owned shares. On May 29, 2012, Vertex acknowledged publicly that the results from its clinical trials were not as positive as previously indicated. On June 27, 2012 Vertex admitted that the May 7th statements were simply inaccurate. Vertex's stock price declined significantly on the news.
Vertex Pharmaceticals (VRTX) Shareholders Raise Questions About The Timing Of The VX-909 And Kalydeco Public DIsclosures
Why did Vertex make strong public statements about eh effecacy of VX-909 and Kalydeco on May 7, 2012 only to admit those statements were inaccurate less than two months later?
What internal controls are in place regarding the public release of clinical data results?
Why were Vertex executives allowed to sell personal shares on inaccurate information?
Vertex Pharmecuticals (VRTX) Shareholder Rights Investigation
The questions set forth above, raise fundamental questions regarding corporate governmance at Vertex Pharmecuticals and whether senior management and the board of directors of Vertex Pharmecuticals (VRTX) are properly executing their respective duties to VRTX shareholders. If you are a current Vertex Pharmecuticals shareholder and would like to learn more about our investigation or if you wish to discuss these matters or have any questions concerning this investigation, please contact us by competing the contact form or call Attorney George Pressly at 1 (800) 631-6234.