NASDAQ GS
VTL

Vital Therapies, Inc.

Shareholder Securities Fraud Litigation

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Vital Therapies, Inc. (NASDAQ GS: VTL)

Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of California on behalf of all persons or entities that purchased the common stock of Vital Therapies, Inc. (“Vital Therapies” or the “Company”) (NASDAQ GS: VTL) between April 17, 2014 and August 21, 2015, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of Vital Therapies during the Class Period, or purchased shares prior to the Class Period and still hold Vital Therapies, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com.

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects.  As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, on August 21, 2015, after the market closed, the Company issued a press release announcing that the VTI-208 trial “failed to meet the primary endpoint of overall survival through at least 91 days[.]”  The press release also announced that “[t]he Company will stop the VTI-210 and VTI-212 clinical trials, and also plans to meet with the FDA as soon as possible to discuss restructuring its clinical development program, including a potential new trial to confirm the information suggested by the subset analyses.”

On this news, shares of Vital Therapies plummeted over 79%, closing at $3.65 per share on August 24, 2015, on heavy trading volume.

If you wish to serve as lead plaintiff, you must move the Court no later than February 1, 2016.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Attorney advertising.  Prior results do not guarantee a similar outcome.