NEW YORK, May 22, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Provectus Biopharmaceuticals, Inc. ("Provectus" or the "Company")(NYSE: PVCT). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 237.
The investigation concerns whether Provectus and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On May 21, 2014, the Seeking Alpha financial news website published an article that highlighted the Company's failure 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. The article also alleged that the Company is tied to a stock promotion firm whose other recommendations were recently halted by the Securities and Exchange Commission (SEC).
On this news, shares of Provectus fell $0.50 per share to $2.20, or more than 18.52%, in intraday trading on May 21, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, 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 70 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
SOURCE Pomerantz LLP