The Shareholders Foundation announces that an investor, who purchased shares of Provectus Pharmaceuticals Inc (NYSEMKT:PVCT), filed a lawsuit in the U.S. District Court for the Middle District of Tennessee over alleged violations of Federal Securities Laws by Provectus Biopharmaceuticals, Inc. (formerly Provectus Pharmaceuticals Inc) in connection with certain allegedly false and misleading statements made between December 17, 2013 and May 22, 2014.
Investors who purchased shares of Provectus Pharmaceuticals Inc (NYSEMKT:PVCT) have certain options and for certain investors are short and strict deadlines running. Deadline: July 28, 2014. NYSEMKT:PVCT investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Provectus Pharmaceuticals Inc (NYSEMKT:PVCT) common shares between December 17, 2013 and May 22, 2014, that the defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
The plaintiff claims that between December 17, 2013 and May 22, 2014 defendants allegedly violated the federal securities laws by disseminating false and misleading statements to the investing public regarding the prospects for PV-10 and that as a result of defendants’ statements, Provectus Pharmaceuticals Inc (NYSEMKT:PVCT) stock traded at artificially inflated prices between December 17, 2013 and May 22, 2014, reaching a high of $5.22 per share on January 22, 2014.
On January 23, 2014, an article was published alleging that Provectus Pharmaceuticals Inc management had misled investors about the prospects for PV-10, questioning why Provectus had not yet started its promised Phase 3 randomized controlled trial of PV-10 and speculating that PV-10 may be obsolete in light of new skin cancer drugs being developed.
Then on May 21, 2014, an article was published that alleged that Provectus Pharmaceuticals failed to commence a promised Phase 3 randomized controlled trial of PV-10 suitable for a Special Protocol Assessment after completing its Phase 2 study in 2010.
Shares of Provectus Pharmaceuticals Inc declined from $3.40 per share on May 15, 2014 to $0.33 per share on May 27, 2014.
On June 9, 2014, NYSEMKT:PVCT shares closed at $0.84 per share.
Those who purchased shares of Provectus Pharmaceuticals Inc (NYSEMKT:PVCT) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com