Class Action Lawsuit on Behalf of Celladon Corporation Investors
Celladon Corporation Lawsuit Details
Gilman Law LLP has announced that on July 10, 2015 a federal securities class action lawsuit was filed on behalf of purchasers of Celladon Corporation (NASDAQ: CLDN) common stock between July 7, 2014 and June 25, 2015. The complaint alleges false and/or misleading statements and/or omissions relating to, among other matters, the company boosting stock prices that dropped after the CEO resigned and the company announcing it was suspending the development of Mydicar, its heart therapy drug. The plaintiff also claims the company’s inflated stock price allowed company insiders to profit. Former CEO Krisztina Zsebo sold 226,397 shares for over $4.1 million and Corporate Operations VP Rebecque Laba sold 79, 012 shares for $1.3 million. On April 26, 2015, Celladon announced that the gene therapy had not met its trial goals causing the stock to fall to $13.68. On June 1, 2015, the company announced it was seeking to sell or merge its business and that Zsebo had resigned as CEO. As a result of these announcements, Celladon stock fell further to close at $1.35 on June 26, 2015.
About Our Investment Fraud Attorneys
TheSecurities Fraud Attorneys at Gilman Law have over 35 years of experience in securities litigation. Our Investment Fraud Attorneys focus on cases involving securities litigation, securities fraud, mergers and acquisitions, breach of fiduciary duty and other shareholder disputes.For a free evaluation of your case or to obtain additional information, please complete the Investor Certification or CALL TOLL FREE (888) 252-0048.