Ariad Investor Says Drug Side Effects Led To Stock Drop

Law360, Los Angeles (October 17, 2013, 4:08 PM EDT) -- An investor hit Ariad Pharmaceuticals Inc. with a putative class action in Massachusetts federal court on Thursday, alleging the oncology company made false statements about its leukemia drug Iclusig then disclosed the dangerous side effects later, causing Ariad’s stock to plummet nearly 66 percent.

The suit comes a week after Iclusig drew the scrutiny of the U.S. Food and Drug Administration due to growing reports of blood clots among patients taking Iclusig and due to Ariad's announcement of plans to stop admitting new patients into clinical...
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