Dallas, Texas 12/09/2013 (Financialstrend) – The Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA)’s leukemia drug medicine Iclusig is under review by the European regulators. The EU agency is mainly looking for risk of blood clots or blockages in the veins or arteries associated with this medicine. In fact during the last month the EU agency reviewed the latest evidence about the drug and the recommended the limited use if the drug medicine Iclusig so as to minimize the risks.
But it is very surprising that the same drug has been suspended in the United States due to safety concerns. Due to all these news the EU agency they have issued further investigation and are trying to have in-depth look at the drug.
Class Action Lawsuit filed by the Faruqi & Faruqi, LLP against the ARIAD Pharmaceuticals, Inc
Recent news suggests that the Faruqi & Faruqi, LLP has filed a lawsuit against Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA). They have filed lawsuit on the behalf of all the investors who invested in the Ariad company shares and suffered heavy losses. The Ariad pharmaceuticals and its executives have been charged with Section 10(b) and/or 20(a) violations under the Exchange Act of 1934 and Rule 10b-5.
Faruqi & Faruqi, LLP is a national law firm that always tries to protect the interest of the investors and acts a representative on their behalf. The firm also focuses on providing exemplary legal services in complex litigation and holds expertise in the area of shareholders, securities, consumer litigation, antitrust and other different types of lawsuits. Now all this is seen as an interesting battle between the Ariad and the Faruqi & Faruqi, LLP and many analysts are pointing it a cat and mouse chase because Ariad is determined to deliver results and the Faruqi & Faruqi, LLP is trying hard to discover more and more loopholes.