Chelsea Therapeutics International CHTP Securities Stock Fraud

Company:	Chelsea Therapeutics International
Ticker Symbol:	CHTP
Class Period:	Nov-3-08 to Mar-28-12
Date Filed:	Apr-5-12
Lead Plaintiff Deadline:	Jun-4-12
Court:	--
Allegations:

New York, NY: A securities class action lawsuit has been filed on behalf of purchasers of Chelsea Therapeutics International, Ltd common stock during the period from November 3, 2008 through March 28, 2012. No class has yet been certified.

The complaint alleges that Chelsea Therapeutics misled investors to believe that Northera (droxidopa), a drug it was developing for the treatment of symptomatic neurogenic orthostatic hypotension would receive approval from the U.S. Food and Drug Administration ("FDA") and misrepresented the safety and efficacy of the product.

On February 13, 2012, the Company disclosed that the FDA had raised questions regarding its clinical trials for Northera. In addition, a number of previously undisclosed serious adverse events patients taking Northera were revealed. As a result, Chelsea shares declined $1.88 per share or more than 37.5%, to close at $3.11 per share on February 13, 2012. The class action seeks to recover investors' losses.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Chelsea Therapeutics International CHTP Securities Fraud Legal Help

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Published on Apr-5-12