WAYNE, Pa., Oct. 19, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of a class (the "Class") comprising all purchasers of the securities of ARIAD Pharmaceuticals, Inc. ("ARIAD" or the "Company") (NASDAQ: ARIA) between December 12, 2011 and October 8, 2013, inclusive (the "Class Period").

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For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/aria.

ARIAD is an oncology company, engaged in the discovery, development and commercialization of small-molecule drugs to treat cancer in patients with aggressive cancers where current therapies are inadequate. ARIAD's first-approved cancer medicine, Iclusig™, is a tyrosine kinase inhibitor (TKI) for the treatment of adult patients with certain chronic or aggressive forms of leukemia who are resistant or intolerant to prior TKI therapy.

On October 9, 2013, the Company announced that the U.S. Food and Drug Administration placed a partial clinical hold on all new patient enrollment in clinical trials of Iclusig, following reports of non-serious and serious adverse events in Iclusig-treated patients. Following this news, the price of ARIAD shares dropped nearly 66%, or $11.31 per share, from the previous day's closing price of $17.14 per share, to a closing price of $5.83 per share on October 9, 2013, on extremely heavy volume.

If you are a member of the class, you may, no later than December 9, 2013, request that the Court appoint you as lead plaintiff of the class.  A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Under certain circumstances, one or more class members may together serve as "lead plaintiff."  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.

For more information about the case or to participate online, please visit: www.rmclasslaw.com/cases/aria or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at rmaniskas@rmclasslaw.com.  For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.

Ryan & Maniskas, LLP is a national shareholder litigation firm.  Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

 

 

 

 

SOURCE Ryan & Maniskas, LLP

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