NEW YORK, Dec. 27, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Seattle Genetics, Inc. ("Seattle Genetics" or the "Company") (NASDAQ: SGEN). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Seattle Genetics and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On December 27, 2016, Seattle Genetics announced that the U.S. Food and Drug Administration had placed a clinical hold or partial clinical hold on several early stage trials of the Company's experimental cancer drug, vadastuximab talirine, to evaluate the potential risk of hepatotoxicity. Seattle Genetics stated that six acute myeloid leukemia patients had been identified with liver toxicity and that four had died.
On this news, Seattle Genetics stock has fallen as much as $9.95, or 16.07%, to $51.91 on December 27, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, 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 80 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
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SOURCE Pomerantz LLP