The Shareholders Foundation announces that a deadline is coming up on December 9, 2014 in the lawsuit filed for investors of Arrowhead Research Corp (NASDAQ:ARWR) over violations of Federal Securities Laws by Arrowhead Research.
Investors who purchased shares of Arrowhead Research Corp (NASDAQ:ARWR) have certain options and there are strict and short deadlines running. Deadline: Dec 9, 2014. Arrowhead Research Corp (NASDAQ:ARWR stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges on behalf of purchasers of Arrowhead Research Corp (NASDAQ:ARWR) common shares between August 12, 2014 and October 8, 2014, that the defendants violated Federal Securities Laws.
Arrowhead Research Corporation is a biopharmaceutical company developing targeted RNAi therapeutics. Arrowhead’s pipeline includes clinical programs in chronic hepatitis B virus and partner-based programs in obesity and oncology. ARC-520 is an RNAi-based therapeutic designed to treat chronic hepatitis B virus (HBV) infection.
The plaintiff claims that Arrowhead allegedly 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 Research Corp announced that data from the ongoing Phase 2a study of ARC-520, its RNAi therapeutic candidate for the treatment of chronic hepatitis B (HBV) infection, will be presented in the late-breaking poster session at the 2014 American Association for the Study of Liver Diseases (AASLD) Liver Meeting being held on November 7-11, 2014, in Boston. On that same day, an article was published on that claimed Arrowhead Research 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. On October 9, 2014, Arrowhead Research Corp issued an open letter to shareholders from President and CEO of Arrowhead Research Corp.
Shares of Arrowhead Research Corp (NASDAQ:ARWR) declined from $13.01 per share on October 7, 2014, to as low as $5.47 per share on October 8, 2014, and continued to decline to as low as $4.95 per share on December 4, 2014.
On December 8, 2014, NASDAQ:ARWR shares closed at $5.14 per share.
Those who purchased shares of Arrowhead Research Corp have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com