NEW YORK, June 26, 2015 /PRNewswire/ -- Pomerantz LLP has
filed a class action lawsuit against IsoRay, Inc. ("IsoRay" or the
"Company")(NYSE MKT: ISR) and certain of its officers.
The class action, filed in United States District Court, Eastern
District of Washington, and
docketed under 15-cv-05046, is on behalf of a class consisting of
all persons or entities who purchased IsoRay securities between
May 20, 2015 and May 21, 2015, inclusive (the "Class
Period"). This class action seeks to recover damages against
Defendants for alleged violations of the federal securities laws
under the Securities Exchange Act of 1934 (the "Exchange
Act").
If you are a shareholder who purchased IsoRay securities during
the Class Period, you have until July 21,
2015 to ask the Court to appoint you as Lead Plaintiff for
the class. A copy of the Complaint can be obtained at
www.pomerantzlaw.com. To discuss this action, contact
Robert S. Willoughby at
rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll
free, x9980. Those who inquire by e-mail are encouraged to include
their mailing address, telephone number, and number of shares
purchased.
IsoRay develops, manufactures, and sells isotope-based medical
products and devices for the treatment of cancer and other
malignant diseases in the United
States. The Company produces Proxcelan Cesium-131
brachytherapy seeds for the treatment of prostate, lung, head and
neck, colorectal, brain, pelvic/abdominal, and gynecological
cancers, as well as ocular melanoma. It also offers GliaSite
radiation therapy system, a balloon catheter device, which is used
to treat brain cancer, including primary and recurrent gliomas and
metastatic brain tumors.
The Complaint alleges that throughout the Class Period,
Defendants made false and/or misleading statements regarding
IsoRay's Celsium-131 isotope seeds and mesh for the treatment of
non-small cell lung cancers.
On May 20, 2015, IsoRay issued a
press release touting the on-line publication of the first major
peer reviewed study showing improved results using IsoRay's
Cesium-131 seeds in the treatment of lung cancer.
On May 21, 2015,
TheStreet.com published an article on IsoRay asserting that
the Company selectively edited findings from a published study in
the May 20th Press Release to make
its Cesium-131 product seem better than it really is.
On this news, shares of IsoRay fell $1.10 per share or over 35% to close at
$2.02 per share on May 21, 2015, damaging investors.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San
Diego, 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
rswilloughby@pomlaw.com
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visit:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-isoray-inc-of-class-action-lawsuit-and-upcoming-deadline--isr-300105708.html
SOURCE Pomerantz LLP