On February 6, 2017, the Israeli publication Calcalist reported that Kitov's chief executive officer Isaac Israel had been detained and questioned by the Israeli Securities Authority on suspicion of publishing misleading information in connection with a recent clinical trial of one of the Company's products.
On this news, Kitov stock fell $0.33, or 11.46%, to close at $2.55 on February 6, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP