SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Puma Biotechnology, Inc. - PBYI
NEW YORK, Dec. 3, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Puma Biotechnology, Inc. ("Puma" or the "Company") (NYSE: PBYI). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Puma and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 22, 2014, the Company announced positive top line results from the Phase III clinical trial of Puma's investigational breast cancer drug, PB272 (neratinib). Based on these results, the Company stated that it plans to file for regulatory approval of neratinib in the first half of 2015, a claim that was confirmed as recently as November 13, 2014.
On December 2, 2014, the Company reversed course and announced that the submission for regulatory approval would be delayed until the first quarter of 2016. The Company also stated that instead of filing for regulatory approval of the drug as a treatment for advanced stage breast cancer, it would now be submitting an application for approval as an early stage breast cancer treatment.
On this news, shares of Puma fell $35.49 per share, or more than 16%, to $189.51 per share in intraday trading on December 3, 2014.
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.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
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SOURCE Pomerantz LLP
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