|By PR Newswire||
|February 10, 2014 03:07 PM EST||
NEW YORK, Feb. 10, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of The Medicines Company ("Medicines" or the "Company")(NasdaqGS: MDCO). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Medicines and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On Monday, February 10, 2014, a report was published by the Food and Drug Administration ("FDA") regarding Medicines drug candidate Cangrelor, designed to prevent blood clots during heart artery-clearing angioplasty and stenting procedures. The report found that Cangrelor did not show superiority to an already approved drug, and that the clinical trials sponsored by Medicines were unethically and inappropriately administered including by delaying administration of the competing drug and lowering dosage of the competing drug. The FDA report stated that, "because the CHAMPION trials were conducted unethically. We can refuse approval of Cangrelor based on that fact alone."
On this news, Medicines shares fell $1.91 per share to $32.31, or more than 5.57%, on February 10, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP
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