Wolf Popper LLP Announces Investigation on Behalf of Investors in Clovis Oncology, Inc.

Nov 30, 2015, 12:29 ET from Wolf Popper LLP

NEW YORK, Nov. 30, 2015 /PRNewswire/ -- Wolf Popper LLP is investigating potential securities fraud claims on behalf of investors in Clovis Oncology, Inc. securities (NASDAQ: CLVS).  Clovis investors can contact Fei-Lu Qian at 877.370.7703 or fqian@wolfpopper.com for more information.

A class action lawsuit has already been filed on behalf of a class of purchasers of Clovis securities from October 31, 2013 through November 15, 2015.  If you wish to serve as lead plaintiff, you must move the Court no later than January 18, 2016.  A lead plaintiff is a representative party acting on behalf of class members in directing the litigation.

On November 16, 2015, Clovis revealed a delay in the approval process for its lead drug candidate rociletinib after meeting with the U.S. Food and Drug Administration as the agency has "requested additional clinical data for use in the efficacy analysis" for rociletinib.  Specifically, at the meeting, "the FDA emphasized that its efficacy analysis would focus solely on confirmed responses" because the Company's own clinical trials on the drug have demonstrated that as the efficacy data matured, "the number of patients with an unconfirmed response who converted to a confirmed response was lower than expected."  

On the news of the delay, Clovis stock declined $69.19 per share or 70%, to close at $30.24 per share on November 16, 2015.

Wolf Popper LLP has extensive experience representing shareholders in securities class actions and has successfully recovered billions of dollars for defrauded investors.  The reputation and expertise of the firm in representing shareholders has been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation.  See www.wolfpopper.com

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Wolf Popper LLP
Fei-Lu Qian
845 Third Avenue
New York, NY 10022
Tel.: 877.370.7703
Fax: 877.370.7704
Email: fqian@wolfpopper.com


SOURCE Wolf Popper LLP