The Shareholders Foundation announces that a deadline is coming up on December 27, 2014 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Affymax (NASDAQ: AFFY) between August 8, 2011 to February 22, 2013.
Investors who purchased a significant amount of shares of Affymax (NASDAQ: AFFY) between August 8, 2011 to February 22, 2013, have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Affymax (NASDAQ: AFFY) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/affymax-inc-nasdaq-affy-investor-securities-class-action-lawsuit-02272013
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is December 27, 2014. The class action administrator for this case is KCC Class Action Services.
The lawsuit was originally filed in in the U.S. District Court for the Northern District of California against Affymax Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between December 8, 2011 and February 22, 2013.
According to the complaint the plaintiff alleges on behalf of purchasers of Affymax Inc (NASDAQ: AFFY) common stock during the period between December 8, 2011 and February 22, 2013, that Affymax Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing false and misleading statements regarding Affymax Inc’s business practices and financial results between December 8, 2011 and February 22, 2013.
Affymax Inc has a strategic alliance agreement with Takeda to develop and commercialize OMONTYS Injection, which is a treatment for anemia due to chronic kidney disease in adult patients on dialysis.Shares of Affymax Inc (NASDAQ: AFFY) grew from slightly above $7 in January 2012 to as high as $26.75 per share in October 2012.
Then on February 23, 2013, Affymax Inc and Takeda announced a nationwide recall of all Lots of OMONTYS® (peginesatide) Injection.
Affymax Inc said the recall is a result of new post-marketing reports regarding serious hypersensitivity reactions, including anaphylaxis, which can be life-threatening or fatal.
Affymax Inc said that to date, fatal reactions have been reported in approximately 0.02% of patients following the first dose of intravenous administration and that the reported serious hypersensitivity reactions have occurred within 30 minutes after such administration of OMONTYS.
The U.S. Food and Drug Administration said it has been notified of 19 reports of anaphylaxis from dialysis centers in the United States. Three of the anaphylaxis cases resulted in death and other patients required prompt medical intervention and in some cases hospitalization. Some of the reports included patients who were able to be resuscitated by doctors. However, anaphylaxis is life-threatening and resuscitation efforts are not always successful.
Those who purchased shares of Affymax Inc (NASDAQ: AFFY) 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