Case Page

 

Case Status:    ONGOING    
On or around 05/02/2016 (Ongoing date of last review)

Filing Date: December 02, 2015

According to the law firm press release, the complaint alleges that throughout the class period, defendants issued materially false and misleading statements and/or failed to disclose material information regarding the Company’s ELAD System studies, VTI-208, VTI-210, and VTI-212, including (a) the studies’ independent significance; (b) the degree to which the studies were interrelated; and (c) that in the case of the failure of the VTI-208 trial, the Company would not continue the VTI-210 trial.

On August 21, 2015, after the market closed, Vital Therapies announced that the VTI-208 trial had “failed to meet the primary endpoint of overall survival through at least 91 days…” and that the Company would stop the VTI-210 and VTI-212 clinical trials. Upon this news, Vital Therapies shares plunged 73.4% to close at just $3.65 per share the next trading day.

On May 2, 2016, the Court issued an Order appointing lead plaintiff and approving lead counsel.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: VTL
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. California
DOCKET #: 15-CV-02700
JUDGE: Hon. Janis L. Sammartino
DATE FILED: 12/02/2015
CLASS PERIOD START: 04/17/2014
CLASS PERIOD END: 08/21/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky LLP (Culver City)
    600 Corporate Pointe, Suite 1170, Levi & Korsinsky LLP (Culver City), CA 90230-7600
    310-839-0442 310-558-3005 ·
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