Johnson & Weaver, LLP Initiates Investigations of Puma Biotechnology, Inc., Virtus Investment Partners, Inc., AAC Holdings, Inc. and Spectrum Pharmaceuticals, Inc.; Encourages Long-Term Investors to Contact the Firm Regarding Their Legal Rights
SAN DIEGO, Oct. 10, 2016 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP, is investigating potential claims against Puma Biotechnology, Inc., Virtus Investment Partners, Inc., AAC Holdings, Inc., and Spectrum Pharmaceuticals, Inc., as detailed below.
Puma Biotechnology, Inc.
Johnson & Weaver, LLP, is investigating potential violations of federal and state laws by certain officers and directors of Puma Biotechnology, Inc. (NYSE:PBYI).
On September 30, 2016, a federal court denied a motion to dismiss a securities fraud class action filed against Puma and certain executives. Puma is a development-stage biopharmaceutical company, focused on the acquisition, development and commercialization of products to enhance cancer care. The company's lead product candidate is an investigational drug known as PB272 ("neratinib"), which Puma touted as an extended adjuvant treatment for human epidermal growth factor receptor 2 ("HER2")-positive breast cancer. Investors assert that during the class period, Puma overstated the efficacy results from its Phase III ExteNET trial, which compared extended adjuvant treatment with neratinib to placebo in HER2-positive breast cancer patients who were pre-treated with Roche's Herceptin. The complaint if the class action alleges that these statements misled investors into thinking the disease-free survival rates over time showed an increasing benefit for those on neratinib (a 33% improvement) versus those on a placebo. In response to Puma's statements regarding the result of the trial, its stock increased $174.37 per share by the close of the market on July 23, 2014, a one-day increase of over 295%.
If you have held Puma shares continuously since at least July 22, 2014, you may have standing to hold Puma harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are a Puma shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
Virtus Investment Partners, Inc.
Johnson & Weaver, LLP is investigating potential violations of federal and state laws by certain officers and directors of Virtus Investment Partners, Inc. (NASDAQ: VRTS). On July 1, 2016, a federal court denied in part a motion to dismiss a securities fraud class action filed against Virtus and certain executives.
Virtus is a mutual fund company which is best known for its "AlphaSector Rotation" and "Premium AlphaSector" Funds. The complaint in the class action alleges that Defendants misled investors by representing that the historical track record of the AlphaSector funds was based on live client assets. Specifically, the complaint in the class action contends that Defendants inaccurately stated that the AlphaSector index had an "inception date" of April 1, 2001, when it is undisputed that AlphaSector returns were based on hypothetical, back-tested data until 2008.
If you have held Virtus shares continuously since at least May 28, 2013, you may have standing to hold Virtus harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are a Virtus shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number
AAC Holdings, Inc.
Johnson & Weaver, LLP continues its investigation of certain officers and directors of AAC Holdings, Inc. (NYSE:AAC). In addition to Federal law violations the investigation has been open to reviewing potential state violations as well.
On July 1, 2016, a federal court denied a motion to dismiss a securities fraud class action filed against AAC and certain executives. According to the complaint, AAC deceived investors about an active criminal investigation by the California Department of Justice. The California DOJ's investigation ultimately materialized into an indictment against AAC for, inter alia, second-degree murder of an AAC patient. The complaint alleges that AAC deliberately disregarded the federal securities laws by concealing the criminal investigation into the circumstances surrounding the patient's death.
If you have held AAC shares continuously long-term, you may have standing to hold AAC harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are an AAC shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
Spectrum Pharmaceuticals, Inc.
Johnson & Weaver, LLP is investigating potential violations of federal and state laws by certain officers and directors of Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI). A class action lawsuit against the Company has been filed on behalf of shareholders who purchased Spectrum stock between December 16, 2015, through September 16, 2016, (the "Class Period").
The complaint alleges, throughout the Class Period defendants made false and misleading statements and failed to disclose that: (1) the FDA previously questioned whether the data from the 611 and 612 Studies were clinically meaningful; (2) the FDA advised defendants in December 2012 not to submit the New Drug Application based on data from the 611 and 612 Studies; and (3) as a result, defendants' public statements about Spectrum's business, operations and prospects were materially false and misleading at all relevant times.
If you have held shares continuously since December 19, 2015, you may have standing to hold Spectrum harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are a Spectrum shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
[email protected]
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SOURCE Johnson & Weaver, LLP
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