PTC Therapeutics, Inc. is a US pharmaceutical company focused on the development of orally administered small molecule drugs and gene therapies.

According to the law firm press release, the Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company’s NDA for Translarna that it submitted to the FDA was not sufficiently complete to permit a substantive review of the application; (2) that, as such, the application would not be reviewed nor approved by the FDA; (3) that the impending non-approval of the NDA would have a negative material impact on the Company’s operations and prospects; and (4) that, as a result of the foregoing, Defendants’ statements about PTC Therapeutics’ business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

On November 14, 2016, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on January 13, 2017. On February 14, Defendants filed a Motion to Dismiss the consolidated Complaint. On August 28, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

On March 2, 2018, the Parties entered into a Stipulation of Settlement. On May 15, the Court issued an Order granting preliminary approval of the settlement. On September 10, the Court granted final approval of the Settlement and entered Final Judgment.