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Case Details for "Rigel Pharmaceuticals, Inc."
Investigation of Rigel Pharmaceuticals, Inc
Lawyers are investigating Rigel Pharmaceuticals, Inc. ("Rigel" or the "Company") (Nasdaq:RIGL) and its board of directors (the "Board") as a result of allegations made in a recently filed proposed class action lawsuit pending in the United States District Court for the Northern District of California.
That lawsuit alleges that the Company, its officers and directors issued materially false and misleading statements about a clinical trial (the "Study") of a new drug, R788, for the treatment of rheumatoid arthritis. The Study involved 189 patients in the U.S. and Mexico. It is alleged that the Company failed to disclose the following: (i) patients in Mexico had higher response rates in both the placebo and treated arms than the U.S. patients, which may have contributed disproportionately to the overall reported benefit observed at the higher doses; (ii) R788 caused an increase in average blood pressure which could signal an increase in cardiovascular risk, and the mechanism that caused the increase was not well understood; and (iii) patients in the Study taking R788 experienced increased liver enzymes compared to patients taking the placebo.
Posted on:07/31/2009
Company: Rigel Pharmaceuticals, Inc.
Affected Class: Current Shareholders
Scope: Nationwide
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