SHAREHOLDER ALERT: Brower Piven Encourages Investors With Losses Over $100,000 In Endocyte, Inc. To Contact The Firm Before T...
July 30 2014 - 4:59PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the Southern
District of Indiana on behalf of purchasers of Endocyte, Inc.
(“Endocyte” or the “Company”) (Nasdaq: ECYT) common stock during
the period between March 21, 2014 and May 2, 2014, inclusive (the
“Class Period”), and informs investors who wish to become
proactively involved in the litigation that they have until August
25, 2014 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in Endocyte common
stock purchased on or after March 21, 2014 and held through the
revelation of negative information during and/or at the end of the
Class Period, as described below, and would like to learn more
about this lawsuit and your ability to participate as a lead
plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
No class has yet been certified in the above action. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than August 25, 2014 and be selected by the
Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among
applicants claiming the largest loss from investment in Company
units during the Class Period.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that the Committee for
Medicinal Products for Human Use (CHMP) of the European Medicines
Agency’s “positive opinions” for the “Conditional Marketing
Authorisations” for the drug VYNFINIT®, used to treat
platinum-resistant ovarian cancer (“PROC”) with VYNFINIT® using
testing methods known as response evaluation criteria in solid
tumors (“RECIST”) were based on the testing criteria called RECIST
1.0 while the pending analysis for the “Conditional Marketing
Authorisations” would be using the more stringent RECIST 1.1
testing criteria. According to the complaint, following the
Company’s May 2, 2014 announcement that VYNFINIT® was found
ineffective in the treatment of PROC based on RECIST 1.1, the value
of Endocyte shares declined significantly.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
Brower Piven, A Professional Corporation1925 Old Valley
RoadStevenson, Maryland 21153Charles J. Piven,
410-415-6616hoffman@browerpiven.com
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