Columbia Laboratories, Inc.
Robbins Umeda LLP Announces an Investigation of Columbia Laboratories, Inc.
Robbins Umeda announces an investigation into Columbia Laboratories, Inc. (NASDAQ: CBRX). Concerned shareholders who would like more information about their rights and potential remedies can complete the form below and we will contact you directly. You can also contact attorney Gregory E. Del Gaizo at (800) 350-6003.
Robbins Umeda LLP is investigating whether officers or directors at Columbia Laboratories issued improper statements to investors that were designed to deceive the market and artificially inflate the company’s stock price. In particular, the firm is examining allegations that senior officials at Columbia Laboratories misled investors about the commercial viability, effectiveness, and market potential for Prochieve, an experimental progesterone vaginal gel designed to reduce the risk of preterm birth. On December 14, 2011, officials at Columbia Laboratories announced that clinical trials of Prochieve showed that the drug reduced “the risk of preterm birth in women with premature cervical shortening,” and that administration of the drug “significantly reduces the risk of preterm birth and neonatal morbidity” for certain women.
However, on January 20, 2012, Columbia Laboratories confirmed that the U.S. Food and Drug Administration would not recommend approval of Prochieve after data showed that the company’s gel was ineffective. Since these facts have emerged, shares of Columbia Laboratories have lost over 50% of their value.
Robbins Umeda LLP highlights that one option available to Columbia Laboratories shareholders is filing a class action lawsuit on behalf of investors to recover damages incurred as a result of the wrongdoing.
Robbins Umeda LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.