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Alnylam Pharmaceuticals, Inc.
Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) resulting from allegations that Alnylam and/or its executives may have issued materially misleading business information to the investing public.
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ALNYLAM INVESTIGATION: BERNSTEIN LIEBHARD LLP ANNOUNCES INVESTIGATION OF ALNYLAM PHARMACEUTICALS, INC. – ALNY
September 13, 2018.
New York, New York—Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Alnylam Pharmaceuticals, Inc. (“Alnylam” or the “Company”) (NASDAQ: ALNY) resulting from allegations that Alnylam and/or its executives may have issued materially misleading business information to the investing public.
On September 12, 2018, Nomura/Instinet analyst Christopher Marai stated that a review document released by the U.S. Food and Drug Administration’s (“FDA”) Center for Drug Evaluation and Research “highlights greater risk” with respect to certain trials of Alnylams’ ONPATTRO (patisiran) lipid complex injection, as well as “a limited market opportunity in TTRcardiomyopathy, and a potential platform safety risk.” Specifically, Marai asserted that “[t]he document highlights FDA reviewers’ concerns over cardiac deaths in patients treated with ONPATTRO and suggests that the drug should be limited to patients with polyneuropathy only (i.e., not patients with cardiac manifestations and polyneuropathy). Furthermore, we believe some comments on the lack of cardiac efficacy call into question claims made by [Alnylam] in this regard.”
On this news, Alnylam stock fell $5.60 per share, or over 5%, from its previous closing price to close at $94.75 per share on September 12, 2018, damaging investors.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.