Northwest Biotherapeutics, Inc. Shareholder Alert: Former SEC Attorney Willie Briscoe & Powers Taylor Investigate Possible Br...
September 01 2015 - 1:03PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the
securities litigation firm of Powers Taylor LLP announce that a
federal class action lawsuit has been filed against Northwest
Biotherapeutics, Inc. (“Northwest Biotherapeutics”) (NasdaqCM:
NWBO) and several officers and directors for acts taken during the
period of March 8, 2013 and August 20, 2015 (the “Class
Period”).
Based upon the allegations in the class action, the firms are
investigating additional legal claims against the officers and
Board of Directors of Northwest Biotherapeutics, Inc. If you are an
affected Northwest Biotherapeutics, Inc. shareholder and want to
learn more about the lawsuit or join the action, contact Willie
Briscoe at The Briscoe Law Firm, PLLC via email at
shareholders@thebriscoelawfirm.com, Patrick Powers at Powers Taylor
LLP via email at shareholder@powerstaylor.com, or call toll free at
(877) 728-9607. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have
violated certain provisions of the Securities Exchange Act of 1934.
Specifically, the complaint alleges, among other things, that
defendants issued statements suggesting that the Company failed to
disclose the positive results from its DCVax-Direct Trial, a
platform technology that uses activated dendritic cells to mobilize
a patient’s own immune system to attack cancer, were based on
preliminary trial results which had not been reviewed or analyzed
by the hospitals conducting the trial. The complaint also alleges
that Northwest Biotherapeutics utilized an aggressive stock
promotion campaign in 2014. Also, the complaint alleges that German
medical authorities required additional information from the
Company in order for the DCVax-L Trial to continue
uninterrupted.
On June 19, 2014, TheStreet.com reported that MD Anderson Cancer
Center, the facility in charge of the clinical trial with direct
funding from Northwest Biotherapeutics, publicly rebuked the
Company’s unjustified and promotional allegations about the
clinical results of DCVax-Direct. On July 7, 2014, an article
published in Seekingalpha.com accused Northwest Biotherapeutics of
hiring authors who have used fictitious identities and fake
credentials within healthcare or finance as part of a stock
promotion scheme. Then, on August 21, 2015, Northwest
Biotherapeutics Phase 3 DCVax-L brain cancer treatment clinical
trial was announced to be temporarily halted by German medical
regulators. After each of these announcements, NWBO stock dropped
significantly.
The Briscoe Law Firm, PLLC is a full service business
litigation, commercial transaction, and public advocacy firm with
more than 20 years of experience in complex litigation and
transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles
a variety of complex business litigation matters, including claims
of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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version on businesswire.com: http://www.businesswire.com/news/home/20150901006443/en/
The Briscoe Law Firm, PLLCWillie Briscoe,
877-728-9607shareholders@thebriscoelawfirm.comorPowers Taylor
LLPPatrick Powers, 877-728-9607shareholder@powerstaylor.com
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