NEW YORK, Nov. 22, 2016 /PRNewswire/ -- Rosen Law Firm, reminds purchasers of Arrowhead Pharmaceuticals, Inc. securities (NASDAQ: ARWR) from May 11, 2015 through November 8, 2016, both dates inclusive (the "Class Period") of the important January 16, 2017 lead plaintiff deadline in the class action. The lawsuit seeks to recover damages for Arrowhead investors under the federal securities laws.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Defendants made materially false and misleading statements and/or failed to disclose that: (1) ARC-520, one of Arrowhead's drug candidates for patients with chronic hepatitis B infection, was fatal at certain doses; (2) consequently, the U.S. Food & Drug Administration was unlikely to approve ARC-520 as a hepatitis B treatment; (3) Arrowhead had overstated the approval prospects and commercial viability of ARC-520; and (4) as a result, Arrowhead's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 16, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-997.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected]. Attorney Advertising. Prior results do not guarantee a similar outcome.