NEW YORK, Nov. 15, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of ProNAi Therapeutics, Inc. ("ProNAi" or the "Company") (NASDAQ: DNAI), concerning whether the board has breached its fiduciary duties to shareholders.
ProNAi's product candidate, PNT2258, was designed to lymphoma. During 2015 and 2016, the Company made consistent public statements touting the efficacy of PNT2258. However, on June 6, 2016, the Company was forced to admit that PNT2258 had not shown sufficient efficacy to justify continued research and studies of the drug would be suspended. On this news, ProNAi stock lost approximately two-thirds of its value.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own ProNAi shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP