NEW YORK, May 11, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Puma Biotechnology, Inc. ("Puma" or the "Company") (NASDAQ: PBYI) and certain of its officers, on behalf of shareholders who purchased Puma securities between February 29, 2016 and May 4, 2017, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/pbyi.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Puma did not anticipate that the U.S. Food and Drug Administration ("FDA") would ultimately approve PB272 ("neratinib") for the treatment of breast cancer; (2) consequently, Puma Biotechnology had overstated the drug's approval prospects and/or commercial viability; and (iii) as a result, Puma Biotechnology's public statements were materially false and misleading at all relevant times.
On May 4, 2017, post-market, Puma revealed that Dr. Robert Charnas, the Company's Senior Vice President, Regulatory Affairs, would be stepping down for "health reasons." Dr. Charnas's resignation will be effective as of May 15, 2017, nine days before the U.S. Food and Drug Administration's scheduled review of Puma's breast cancer drug neratinib on May 24. Following this news, Puma stock dropped.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: http://www.bgandg.com/pbyi or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Puma you have until July 7, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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