NEW YORK, Feb. 27, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Vitae Pharmaceuticals, Inc. ("Vitae" or the "Company") (NASDAQ: VTAE).  Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 237.

The investigation concerns whether Vitae and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. 

On February 27, 2015, the Company announced that its partner Boehringer Ingelheim has voluntarily placed a temporary clinical hold on BI 1181181—an orally-active beta secretase (BACE) inhibitor being evaluated in Phase 1 clinical trials for the treatment and prevention of Alzheimer's disease—and has notified regulatory agencies of its decision. This temporary clinical hold was placed to further investigate skin reactions observed in some study participants during the multiple rising dose trial. 

On this news, shares of Vitae fell $1.82 per share to $11.46, or more than 13.71%, in after-hours trading on February 25, 2015.

The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com

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SOURCE Pomerantz LLP