Attorney Advertising– NEW YORK–(BUSINESS WIRE)–Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Columbia Laboratories, Inc. (“Columbia Laboratories” or the “Company”) (Nasdaq: CBRX -News), concerning whether the company and certain of its officers and directors have violated federal securities laws.
On January 20, 2012, Columbia Laboratories confirmed that the Advisory Committee for Reproductive Health Drugs of the U.S. Food and Drug Administration (FDA) did not recommend approval of progesterone vaginal gel 8% for the reduction of risk of preterm birth in women with short uterine cervical length at the mid-trimester of pregnancy. The investigation concerns whether statements made by the Company and certain of its officers regarding the safety and effectiveness of the Company’s progesterone gel product Prochieve were materially false and misleading. On December 14, 2011, the Company issued a press release highlighting the purported results of clinical trials that showed that Prochieve “significantly reduces the risk of preterm birth and neonatal morbidity.” On this news, Columbia Laboratories’ stock increased in price significantly. On January 17, 2012, however, the FDA released documents including trial data that indicates Prochieve is not effective. As a result, Columbia Laboratories’ stock price declined over 50%, to $1.10, well below where it traded before the December 14, 2011 announcement.
If you are aware of any facts relating to this investigation, or purchased shares of Columbia Laboratories, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate work, private securities offerings, and securities arbitration.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman, 212-697-6484