NEW YORK, NY--(Marketwired - May 28, 2016) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in NewLink Genetics Corporation ("NewLink" or the "Company") (NASDAQ: NLNK) of the July 11, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased or otherwise acquired NewLink securities between September 17, 2013 and May 9, 2016 (the "Class Period"). The case, Abramson v. NewLink Genetics Corporation et al, No. 1:16-cv-03545 was filed on May 12, 2016, and has been assigned to Judge William H. Pauley III.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failed to disclose that: (i) algenpantucel-L, a pancreatic cancer treatment, was ineffective and potentially dangerous to patients; and (ii) as a result, NewLink's public statements were materially false and misleading.
Specifically, on May 9, 2016, after market close, NewLink announced that algenpantucel-L did not meet the main goal in the Company's Phase 3 IMPRESS study. Patients treated with algenpantucel-L lived for a median of 27.3 months in NewLink's Phase 3 trial, compared to median survival of 30.4 months for patients treated with standard therapy, indicating that patients were actually harmed by NewLink's treatment.
On this news, NewLink's share price fell from $16.50 per share on May 9, 2016 to a closing price of $11.45 on May 10, 2016 -- a $5.05 or a ~30.61% drop.
Request more information now by clicking here: www.faruqilaw.com/NLNK . There is no cost or obligation to you.
Take Action
If you invested in NewLink stock or options between September 17, 2013 and May 9, 2016 and would like to discuss your legal rights, visit www.faruqilaw.com/NLNK. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding NewLink's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative 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. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
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