SAN DIEGO and BETHESDA, Md., July 1, 2014 /PRNewswire/ -- Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Northwest Biotherapeutics, Inc. (NYSE: NWBO) breached their fiduciary duties to shareholders. Northwest Bio is a development stage biotechnology company that develops immunotherapy products to treat cancers.
View the investigation on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/northwest-biotherapeutics-inc
Northwest Bio Shares Drop After Company Violates Accepted Practice by Releasing Incomplete Research Data
On June 19, 2014, an article published on TheStreet.com reported that the MD Anderson Cancer Center criticized Northwest Bio for their promotional and unjustified claims regarding results in an ongoing clinical trial of the cancer vaccine known as DCVax-Direct. According to the article, Northwest Bio has issued five press releases and held one press conference since May disclosing preliminary, unconfirmed results from individual cancer patients who have enrolled in the DCVax-Direct phase I/II clinical trials. According to the report, investigators at MD Anderson, one of several sites conducting the study, have not yet been able to analyze data collected because patients are still being enrolled and treated in the study. Following this announcement shares dropped nearly 20% from $8.97 to close at $7.18.
Northwest Bio Shareholders Have Legal Options
Robbins Arroyo LLP highlights that Northwest Bio shareholders have the option to pursue a shareholder litigation demand or shareholder derivative action through which shareholders aim to hold insider wrongdoers accountable for their actions, prevent future misconduct, and bring long-term value back to the company. Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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SOURCE Robbins Arroyo LLP