NKTR CLASS ACTION DEADLINE IN 1 DAY: Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Motion for Lead Plain...
October 16 2019 - 10:11AM
Business Wire
Bernstein Liebhard LLP, a nationally acclaimed investor rights
law firm, reminds investors of the deadline to file a motion for
appointment as lead plaintiff in a securities class action on
behalf of investors that purchased or acquired the securities of
Nektar Therapeutics ("Nektar" or the "Company") (NASDAQ: NKTR)
between February 15, 2019 and August 8, 2019, inclusive (the "Class
Period"). The lawsuit filed in the United States District Court for
the Northern District of California alleges violations of the
Securities Exchange Act of 1934.
If you purchased Nektar securities, and/or would like to
discuss your legal rights and options please visit Nektar
Shareholder Class Action or contact Matthew E. Guarnero toll free
at (877) 779-1414 or MGuarnero@bernlieb.com.
The complaint filed in this class action alleges that throughout
the Class Period, Defendants made materially false and/or
misleading statements, as well as failed to disclose material
adverse facts about the Company's business, operations, and
prospects. Specifically, Defendants failed to disclose to
investors: (1) that the Company did not comply with current good
manufacturing practices; (2) that, as a result, batches of NKTR-214
were not produced consistently and differed meaningfully; (3) that
clinical results from PIVOT-02 differed based on the batch of
NKTR-214 used in the study; (4) that, as a result, the PIVOT-02
study did not produce statistically significant results to support
a finding of clinical benefit; and (5) that, as a result of the
foregoing, Defendants' positive statements about the Company's
business, operations, and prospects were materially misleading
and/or lacked a reasonable basis.
On August 8, 2019, after the market closed, the Company revealed
that a manufacturing issue caused two batches of bempegaldesleukin
to differ from the other 20 batches that were produced. Moreover,
these batches resulted in variable clinical benefit than other
batches used in the Company's PIVOT-02 clinical trial.
On this news, the Company's share price fell $8.65, or nearly
30% to close at $20.92 per share on August 9, 2019.
If you wish to serve as lead plaintiff, you must move the Court
no later than October 18, 2019. A lead plaintiff is a
representative party acting on behalf of other class members in
directing the litigation. Your ability to share in any recovery
doesn’t require that you serve as lead plaintiff. If you choose to
take no action, you may remain an absent class member.
If you purchased Nektar securities, and/or would like to
discuss your legal rights and options please visit
https://www.bernlieb.com/cases/nektartherapeutics-nktr-shareholder-class-action-lawsuit-fraud-stock-177/apply/
or contact Matthew E. Guarnero toll free at (877) 779-1414
or MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5
billion for its clients. In addition to representing individual
investors, the Firm has been retained by some of the largest public
and private pension funds in the country to monitor their assets
and pursue litigation on their behalf. As a result of its success
litigating hundreds of lawsuits and class actions, the Firm has
been named to The National Law Journal’s “Plaintiffs’ Hot List”
thirteen times and listed in The Legal 500 for ten consecutive
years.
ATTORNEY ADVERTISING. © 2019 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New York 10016, (212) 779-1414. The
lawyer responsible for this advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
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version on businesswire.com: https://www.businesswire.com/news/home/20191016005544/en/
Matthew E. Guarnero Bernstein Liebhard LLP
https://www.bernlieb.com (877) 779-1414 MGuarnero@bernlieb.com
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