NEW ORLEANS -- (Business Wire)
Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney
General of Louisiana, Charles C. Foti, Jr., remind investors that they
have until December 9, 2014 to file lead plaintiff applications
in a securities class action lawsuit against Arrowhead Research Corp.
(“Arrowhead” or the “Company”) (NASDAQ: ARWR) if they purchased the
Company’s securities between August 12, 2014 and October 8, 2014,
inclusive (the “Class Period”). This action is pending in the United
States District Court for the Central District of California.
What You May Do
If you purchased shares of Arrowhead during the Class Period, or during
the Company’s February 24, 2014 offering, and would like to discuss your
legal rights and how this case might affect you and your right to
recover for your economic loss, you may, without obligation or cost to
you, call toll-free at 1-877-515-1850 or email KSF Managing Partner
Lewis Kahn (lewis.kahn@ksfcounsel.com).
If you wish to serve as a lead plaintiff in this class action, you must
petition the Court by December 9, 2014.
About the Lawsuit
Arrowhead and certain of its executives are charged with failing to
disclose material information during the Class Period, violating federal
securities laws.
According to the complaint, Arrowhead materially misstated clinical
trial information from its experimental hepatitis B therapy ARC-520 by
falsely suggesting that the Company's therapy was more effective than it
actually was. On October 8, 2014, Arrowhead released disappointing data
from its experimental hepatitis B therapy ARC-520. On the same day, an
article published on TheStreet.com reported that Arrowhead CEO Chris
Anzalone and his team knew for months that ARC-520 dosed at 1 mg/kg and
2 mg/kg yielded 0.2-log and 0.3-log reductions in hepatitis B viral
load. Yet, Arrowhead executives led investors to believe that ARC-520
was more potent and achieved viral load reductions in the range of
0.7-log or higher. On this news, shares of Arrowhead fell $5.48 per
share, or over 43%, to close at $7.03 per share.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana
Attorney General, Charles C. Foti, Jr., and other lawyers with
significant experience litigating complex securities class actions
nationwide on behalf of both institutional and individual shareholders,
you may visit www.ksfcounsel.com.
Contacts:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner,
1-877-515-1850
lewis.kahn@ksfcounsel.com
Source: Kahn Swick & Foti, LLC
© 2024 Canjex Publishing Ltd. All rights reserved.