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LAWSUIT ALERT REMINDER: The Law Firm of Andrews & Springer LLC Announces That a Securities Fraud Class Action Has Been Filed Against Celladon Corporation - CLDN

20:00 EDT 26 Jul 2015 | Globe Newswire

WILMINGTON, Del., July 27, 2015 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announced today that a securities fraud class action lawsuit has been filed in the U.S. District Court, Southern District of California, on behalf of investors of Celladon Corporation (NASDAQ:CLDN) (“Celladon” or the “Company”) that held shares between July 7, 2014 and June 25, 2015 (the “Class Period”). If you purchased Celladon securities during the Class Period or you held shares traceable to Celladon’s initial public offering (“IPO”) on January 30, 2014, you may, no later than August 31, 2015, request that the Court appoint you lead plaintiff of the proposed class.

A copy of the complaint is available from the Court or from Andrews & Springer LLC. If you would like to join the class action, please visit our website or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

The lawsuit alleges that Celladon made false and misleading statements about MYDICAR, the Company’s leading investigational drug for treating heart failure. Specifically, the complaint alleges that: (1) the success in the CUPID1 trial of MYDICAR was not indicative of any success in the CUPID2 trial since the CUPID1 trial was extremely small and (2) Celladon’s top executives were aware of the limitations of the CUPID1 trial in predicting the success of the CUPID2 trial.  As a result, Celladon executives caused Celladon securities to trade at artificially inflated prices by improperly concealing the limitations of the CUPID1 trial.

On April 27, 2015, the truth about Celladon’s cover-up began to be revealed when the Company announced that the trial failed to show a significant treatment effect.

As a result of this news, Celladon’s stock price fell 80% and closed at $2.64 per share, wiping out millions of market value and causing millions in losses for investors.

If you wish to serve as lead plaintiff, you must move the Court no later than August 31, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.

Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.

Contact:    Craig J. Springer, Esq.
                 cspringer@andrewsspringer.com
                 Toll Free: 1-800-423-6013
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