NEW YORK, Oct. 6, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Alnylam Pharmaceuticals, Inc. ("Alnylam" or the "Company") (NASDAQ: ALNY) (ISIN: US02043Q1076). Investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Alnylam and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
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On October 5, 2016, Alnylam announced that the Company had decided to discontinue development of revusiran, an investigational RNA interference therapeutic that Alnylam was developing for the treatment of hereditary ATTR amyloidosis with cardiomyopathy, citing patient safety concerns. The Company stated that its decision was prompted by reports that patients taking the revusiran drug in midstage trials had new or worsening complications of the disease.
On this news, Alnylam stock has fallen as much as $34.68, or 49.33%, to $35.62 during intraday trading on October 6, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP