NEW YORK, Dec. 7, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of XBiotech, Inc. ("XBiotech" or the "Company") (NASDAQ: XBIT). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether XBiotech 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 23, 2015, post-market, XBiotech announced that data for 72 patients in its study of True Human(TM) therapeutic antibodies were compromised and are unavailable for primary endpoint evaluation due to irregularities. These irregularities include patients dropping out of the study prior to receiving any dosing with drug or placebo, erroneously receiving either placebo or study drug, and failing to receive scheduled DEXA scans, properly complete EORTC evaluation, or both.
On this news, XBiotech shares have fallen as much as $5.00, or 37.7%, during intraday trading on November 24, 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.
CONTACT: Robert S. Willoughby Pomerantz LLP firstname.lastname@example.org
SOURCE Pomerantz LLP