NEW YORK, Dec. 8, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Clovis Oncology, Inc. ("Clovis" or the "Company") (NASDAQ: CLVS). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Clovis and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On November 16, 2015, Clovis revealed that the efficacy of its lead drug candidate rociletinib, as measured by tumor shrinkage response rates in lung cancer patients, was actually far lower than previously presented. On that same day, Clovis acknowledged during a conference call that the company had these updated results in hand since the end of October.
On this news, the company's stock fell $69.19, or 69.59%, to close at $30.24 on November 16, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, 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.
Robert S. Willoughby
SOURCE Pomerantz LLP