SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Pozen, Inc. - POZN
NEW YORK, Dec. 17, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Pozen, Inc. ("Pozen" or the "Company") (NasdaqGS: POZN) (CUSIP: 73941U102). Investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Pozen, Inc. and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On April 28, 2014 the Company announced in a Securities and Exchange Commission (SEC) Form 8-K filing that, "their drug candidates PA8140/PA32540 (aspirin and omeprazole) delayed release tablets have received a complete response letter (CRL) from the U.S. Food and Drug Administration (FDA). A CRL is issued by the FDA when the review of the file is completed and questions remain that preclude the approval of the new drug application (NDA) in its current form. In the CRL, the FDA noted that, during an inspection of the manufacturing facility of an active ingredient supplier that concluded this week, inspection deficiencies were found. Satisfactory resolution of deficiencies noted by the field investigator is required before the NDA may be approved."
On this news, shares of Pozen fell $0.95, or more than 10.41%, on intraday trading to $8.18, on unusually heavy trading volume.
On December 17, 2014, the Company announced that its investigational drug candidates YOSPRALA 81/40 and 325/40 received a second complete response letter from the FDA. In this CRL, the FDA used identical wording to that of the first CRL, which was that during an inspection of the foreign manufacturing facility of an active ingredient supplier on April 25, 2014, a FDA field investigator conveyed deficiencies to the representative of the facility.
On this news, shares of Pozen fell $0.84, or more than 9.30%, on intraday trading to $8.19, on unusually heavy trading volume.
The Pomerantz Firm, with offices in New York, Chicago, San Diego, 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.
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SOURCE Pomerantz LLP
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