INVESTOR ALERT: Class Action Lawsuit Against Provectus Biopharmaceuticals, Inc. Announced by Law Offices of Howard G. Smith
June 17 2014 - 10:32AM
Business Wire
Law Offices of Howard G. Smith announces that a class action
lawsuit has been filed in the United States District Court for the
Middle District of Tennessee on behalf of all purchasers of the
securities of Provectus Biopharmaceuticals, Inc. (“Provectus” or
the “Company”) (NYSE:PVCT) between December 17, 2013 and May 22,
2014, inclusive (the “Class Period”).
Provectus is a development-stage biopharmaceutical company
engaged in developing pharmaceuticals for oncology and dermatology
indications. The Company’s product line includes PV-10, which has
completed a Phase II study for metastatic melanoma and a Phase I
study for breast cancer, and is in various stages of clinical
development for certain other cancer indications. The Complaint
alleges that defendants misrepresented and/or failed to disclose
material adverse facts concerning the status of PV-10 and
preparations for a Phase III study of the drug.
On May 23, 2014, the Company announced that its application for
a designation of PV-10 as “Breakthrough Therapy” was denied by the
Food and Drug Administration. According to the Company, the FDA
denied the designation because the agency’s review indicated that
“the data upon which the Company based its request for designation
of PV-10 as a Breakthrough Therapy for the treatment of patients
with locally advanced cutaneous melanoma was insufficient to
demonstrate substantial improvement over existing therapies.”
If you are a member of the Class described above, you have until
July 28, 2014, to move the Court to serve as lead plaintiff, if you
meet certain legal requirements. To be a member of the Class you
need not take any action at this time; you may retain counsel of
your choice or take no action and remain an absent member of the
Class. If you wish to learn more about this action, please contact
Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone
at (215) 638-4847, Toll Free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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