WILMINGTON, Del., July 30, 2015 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of XOMA Corporation (NASDAQ GM: XOMA)?
- Did you purchase your shares between November 6, 2014 and July 21, 2015, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities that purchased the common stock of XOMA Corporation ("XOMA" or the "Company") (NASDAQ GM: XOMA) between November 6, 2014 and July 21, 2015, inclusive (the "Class Period"), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the "Complaint").
If you purchased shares of XOMA during the Class Period, or purchased shares prior to the Class Period and still hold XOMA, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to firstname.lastname@example.org; or at: http://rigrodskylong.com/investigations/xoma-corporation-xoma.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's business, operations and prospects. As a result of defendants' alleged false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on July 22, 2015, the Company revealed that the EYEGUARD-B study for its lead product candidate, gevokizumab, did not meet the primary endpoint of first acute ocular exacerbation. This revelation contradicted earlier statements from the Company that gevokizumab was "one exacerbation away from being able to close the EYEGUARD-B study database."
On this news, shares in XOMA plummeted over 77%, closing at $1.00 per share on July 22, 2014, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than September 22, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
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