Faruqi & Faruqi, LLP Obtains Significant Victory On Behalf Of Investors Against Chelsea Therapeutics International, Ltd.
On August 26, 2015, United States District Judge Max O. Cogburn, Jr. denied a motion to dismiss filed by Chelsea Therapeutics International, Ltd. (“Chelsea”), former Chief Executive Officer, President and director Simon Pedder and former Vice President and Chief Medical Officer William D. Schwieterman (together “Defendants”). The Court sustained claims alleging that the Defendants violated the federal securities laws by making materially false and misleading statements regarding the Company’s communications with the U.S. Food & Drug Administration and the Company’s New Drug Application for droxidopa a/k/a NortheraTM, a product of Chelsea.
If you purchased Chelsea common stock between September 20, 2010 and May 21, 2012, inclusive, and would like to discuss your legal rights, call Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or send an e-mail to rgonnello@faruqilaw.com.