SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Arrowhead Research Corp. - ARWR
NEW YORK, Oct. 9, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Arrowhead Research Corp. ("Arrowhead" or the "Company") (NASDAQ: ARWR). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Arrowhead and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On October 8, 2014, Arrowhead released disappointing data from its experimental hepatitis B therapy ARC-520. On that same day, an article published on TheStreet.com reported that Arrowhead Research CEO Chris Anzalone and his team knew for months that ARC-520 dosed at 1 mg/kg and 2 mg/kg yielded 0.2-log and 0.3-log reductions in hepatitis B viral load. Yet, Arrowhead executives led investors to believe that ARC-520 was more potent and achieved viral load reductions in the range of 0.7 log or higher.
On this news, shares of Arrowhead fell $5.48 per share, or more than 43.80%, to close at $7.03 per share on October 8, 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.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
SOURCE Pomerantz LLP
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