Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Arrowhead Research Corporation
Oklahoma City, OK (November 10, 2014) – On October 10, 2014, a securities class action lawsuit was filed in the United States District Court for the Central District of California against Arrowhead Research Corporation (NASDAQ: ARWR). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is August 12, 2014 through October 8, 2014. More specifically, this litigation was filed because the Company failed to disclose the true efficacy of its experimental hepatitis B therapy ARC-520. On that same day, an article published on TheStreet.com reported that Arrowhead Research CEO Chris Anzalone and his team falsely led investors to believe that ARC-520 was more potent than it actually was. On this news, the Company’s securities declined $5.48 per share to close at $7.03 per share on October 8, 2014.
Plaintiff seeks to recover damages on behalf of all Arrowhead Research Corporation shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Tuesday, December 9, 2014 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
To join this class action, click here to obtain an investor certification. Once complete, please email this form to firstname.lastname@example.org, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.
Posted on Mon, November 10, 2014
by Robin Hester filed under