Newman Ferrara LLP Announces Corporate Governance Investigation of Puma Biotechnology, Inc. - PBYI
January 09 2017 - 4:55PM
Business Wire
Newman Ferrara LLP announced today that the firm is conducting
an investigation on behalf of shareholders of Puma Biotechnology,
Inc. (“Puma” or the “Company”) (NASDAQ:PBYI) into potential
breaches of fiduciary duty by the Company’s Board of Directors (the
“Board”).
Puma, headquartered in Los Angeles, California, is a
biopharmaceutical company. Despite the Company’s lack of revenue,
low market capitalization, and increasing investment in research
and development since it became a public company in 2012, the Board
continues to make decisions, without shareholder approval, that
significantly diminish shareholder value and do not benefit the
Company. Based on this, it appears the Board lacks the ability to
fairly assess and oversee the Company’s direction and
leadership.
Current Puma stockholders seeking more information on this
matter are invited to contact Newman Ferrara attorneys Jeffrey
Norton (jnorton@nfllp.com) or Roger Sachar, Jr. (rsachar@nfllp.com)
to discuss this investigation and their rights.
Newman Ferrara maintains a multifaceted practice based in New
York City with attorneys specializing in complex commercial and
multi-party litigation, securities fraud and shareholder
litigation, consumer protection, civil rights, and real estate. For
more information, please visit the firm website at
www.nfllp.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170109006394/en/
Newman Ferrara LLPJeffrey M. Norton,
212-619-5400jnorton@nfllp.com
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