CASES
Medivation, Inc.
Class Period: Jul 17, 2008 to Mar 2, 2010
Lead Plaintiff Deadline: May 10, 2010 + Deadline passed
Summary of Case:
A securities class action has been filed against Medivation, Inc. (MDVN) ("Medivation" or the "Company") on behalf of all securities purchasers from July 17, 2008 through March 2, 2010, inclusive ("Class Period"), in the United States District Court of California.
The complaint alleges during the Class Period, defendants made false and misleading statements regarding Medivation"s drug Dimebon. Specifically, defendants violated the federal securities laws by disseminating false and misleading statements to the investing public about the effectiveness of Dimebon as a treatment for Alzheimer's disease, making it impossible for shareholders to gain a meaningful or realistic understanding of the drug's progress toward FDA approval and market success. Then, on March 3, 2010, before the market opened, defendants were forced to publicly disclose that Dimebon did not meet primary and secondary goals in a Phase 3 trial for patients with mild to moderate Alzheimer's disease. As a result of this news, Medivation's stock plummeted $27.15 per share to close at $13.10 per share on March 3, 2010 - a one-day decline of 67% on volume of 45 million shares.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.