The Shuman Law Firm Investigates Clovis Oncology, Inc.
May 11 2016 - 1:38PM
Business Wire
The Shuman Law Firm announces that it is investigating potential
claims against certain officers and directors of Clovis Oncology,
Inc. (“Clovis” or the “Company”) (Nasdaq: CLVS). Clovis is a
Boulder, CO-based biopharmaceutical company that focuses on
anti-cancer agents.
The Firm’s investigation relates to whether certain current
and/or former senior officers and directors breached their
fiduciary duties to the Company by allegedly causing the Company to
issue materially false and misleading statements regarding
rociletinib, Clovis’ proprietary cancer drug for lung cancer
treatment. On November 16, 2015, Clovis’ senior management
announced that rociletinib’s Objective Response Rate (“ORR”) was
less than half the number previously reported publicly. ORR was the
central measure of success in rociletinib’s drug trial and of
critical importance to Clovis’ future business prospects. Following
the Company’s November 16, 2015 disclosure, Clovis’ stock price
fell more than 70% in a single day, wiping out more than $2.7
billion in market capitalization. Additional negative information
regarding rociletinib’s safety profile, specifically with respect
to increased side effects was released on April 8, 2016. Following
this disclosure, Clovis’ stock fell an additional 17%.
If you currently own Clovis common stock and are interested in
discussing your rights, or have information relating to this
investigation, please contact Kip B. Shuman or Rusty E. Glenn toll
free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com
or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in stockholder litigation.
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version on businesswire.com: http://www.businesswire.com/news/home/20160511006332/en/
The Shuman Law FirmKip B. Shuman, Esq.,
866-569-4531kip@shumanlawfirm.comorRusty E. Glenn, Esq.,
866-569-4531rusty@shumanlawfirm.comorFax: 303-536-7849Web:
www.shumanlawfirm.com
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