NEW YORK, May 2, 2018 /PRNewswire/ -- WeissLaw LLP announced that a class action was filed in the United States District Court for the District of Massachusetts on behalf of all persons and entities who purchased or otherwise acquired shares of Solid Biosciences Inc. ("SLDB" or the "Company") (NASDAQ: SLDB) from January 25, 2018 through April 18, 2018. The action seeks to pursue remedies and recover compensable damages caused by SLDB's Board of Directors under the Securities Act of 1933, and the Securities Exchange Act of 1934.
On March 14, 2018, following the hospitalization of a patient, SLDB issued a press release announcing that the U. S. Food and Drug Administration had placed a clinical hold on the Company's Phase I/II trial for SGT-001, a microdystrophin gene therapy in Duchene muscular dystrophy. On that news, SLDB shares nose-dived, trading for as low as $8.95. Less than two months prior to the announcement, a report co-authored by James Wilson— who was, at the time, a member of the Company's advisory board— warned of possible concerns related to the administration of adeno-associated viral vectors ("AVV"), an integral part of SLDB's SGT-001 therapy. Mr. Wilson would later resign from his position, citing "emerging concerns about the possible risks of high systemic dosing of AVV."
WeissLaw is investigating whether SLBD's Board (1) made materially false and/or misleading statements with regard possible health concerns and adverse effects related to its SGT-001 therapy; (2) misled investors regarding the toxicity of SGT-001; and (3) disseminated false and/or misleading statements in connection with its Prospectus and Registration Statement. If you own SLBD shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact Joshua Rubin of WeissLaw LLP at (888)593-4771, or by e-mail at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/solid-biosciences-inc/
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SOURCE WeissLaw LLP
