SAN DIEGO, Oct. 10, 2016 /PRNewswire/ -- Shareholder
Rights Law Firm Johnson & Weaver, LLP, is investigating
potential claims against Puma Biotechnology, Inc., Virtus
Investment Partners, Inc., AAC Holdings, Inc., and Spectrum
Pharmaceuticals, Inc., as detailed below.
Puma Biotechnology, Inc.
Johnson & Weaver, LLP,
is investigating potential violations of federal and state laws by
certain officers and directors of Puma Biotechnology, Inc.
(NYSE:PBYI).
On September 30, 2016, a federal
court denied a motion to dismiss a securities fraud class action
filed against Puma and certain executives. Puma is a
development-stage biopharmaceutical company, focused on the
acquisition, development and commercialization of products to
enhance cancer care. The company's lead product candidate is
an investigational drug known as PB272 ("neratinib"), which Puma
touted as an extended adjuvant treatment for human epidermal growth
factor receptor 2 ("HER2")-positive breast cancer. Investors assert
that during the class period, Puma overstated the efficacy results
from its Phase III ExteNET trial, which compared extended adjuvant
treatment with neratinib to placebo in HER2-positive breast cancer
patients who were pre-treated with Roche's Herceptin. The
complaint if the class action alleges that these statements misled
investors into thinking the disease-free survival rates over time
showed an increasing benefit for those on neratinib (a 33%
improvement) versus those on a placebo. In response to Puma's
statements regarding the result of the trial, its stock increased
$174.37 per share by the close of the
market on July 23, 2014, a one-day
increase of over 295%.
If you have held Puma shares continuously since at least
July 22, 2014, you may have
standing to hold Puma harmless from the damage the officers and
directors caused by making them personally responsible. You may
also be able to assist in reforming the Company's corporate
governance to prevent future wrongdoing.
If you are a Puma shareholder and are interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonandweaver.com) at 619-814-4471. If you
email, please include your phone number.
Virtus Investment Partners, Inc.
Johnson &
Weaver, LLP is investigating potential violations of federal and
state laws by certain officers and directors of Virtus
Investment Partners, Inc. (NASDAQ: VRTS). On July 1, 2016, a federal court denied in part a
motion to dismiss a securities fraud class action filed against
Virtus and certain executives.
Virtus is a mutual fund company which is best known for its
"AlphaSector Rotation" and "Premium AlphaSector" Funds. The
complaint in the class action alleges that Defendants misled
investors by representing that the historical track record of the
AlphaSector funds was based on live client assets.
Specifically, the complaint in the class action contends that
Defendants inaccurately stated that the AlphaSector index had an
"inception date" of April 1, 2001,
when it is undisputed that AlphaSector returns were based on
hypothetical, back-tested data until 2008.
If you have held Virtus shares continuously since at least
May 28, 2013, you may have
standing to hold Virtus harmless from the damage the officers and
directors caused by making them personally responsible. You may
also be able to assist in reforming the Company's corporate
governance to prevent future wrongdoing.
If you are a Virtus shareholder and are interested in
learning more about the investigation or your legal rights and
remedies, please contact lead analyst Jim
Baker (jimb@johnsonandweaver.com) at 619-814-4471. If you
email, please include your phone number
AAC Holdings, Inc.
Johnson & Weaver,
LLP continues its investigation of certain officers and directors
of AAC Holdings, Inc. (NYSE:AAC). In
addition to Federal law violations the investigation has been open
to reviewing potential state violations as well.
On July 1, 2016, a federal court
denied a motion to dismiss a securities fraud class action filed
against AAC and certain executives. According to the complaint, AAC
deceived investors about an active criminal investigation by the
California Department of Justice. The California DOJ's
investigation ultimately materialized into an indictment against
AAC for, inter alia, second-degree murder of an AAC patient.
The complaint alleges that AAC deliberately disregarded the federal
securities laws by concealing the criminal investigation into the
circumstances surrounding the patient's death.
If you have held AAC shares continuously long-term,
you may have standing to hold AAC harmless from the damage the
officers and directors caused by making them personally
responsible. You may also be able to assist in reforming the
Company's corporate governance to prevent future
wrongdoing.
If you are an AAC shareholder and are interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonandweaver.com) at 619-814-4471. If you
email, please include your phone number.
Spectrum Pharmaceuticals, Inc.
Johnson & Weaver,
LLP is investigating potential violations of federal and state laws
by certain officers and directors of Spectrum Pharmaceuticals,
Inc. (NASDAQ: SPPI). A class action lawsuit against the Company
has been filed on behalf of shareholders who purchased Spectrum
stock between December 16, 2015,
through September 16, 2016, (the
"Class Period").
The complaint alleges, throughout the Class Period defendants
made false and misleading statements and failed to disclose that:
(1) the FDA previously questioned whether the data from the 611 and
612 Studies were clinically meaningful; (2) the FDA advised
defendants in December 2012 not to
submit the New Drug Application based on data from the 611 and 612
Studies; and (3) as a result, defendants' public statements about
Spectrum's business, operations and prospects were materially false
and misleading at all relevant times.
If you have held shares continuously since December 19, 2015, you may have standing
to hold Spectrum harmless from the damage the officers and
directors caused by making them personally responsible. You may
also be able to assist in reforming the Company's corporate
governance to prevent future wrongdoing.
If you are a Spectrum shareholder and are
interested in learning more about the investigation or your legal
rights and remedies, please contact lead analyst Jim Baker
(jimb@johnsonandweaver.com) at 619-814-4471. If you
email, please include your phone number.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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