Glancy, Prongay & Murray LLP Commences Investigation on Behalf of Northwest Biotherapeutics, Inc. Investors
24 November 2015 - 12:59PM
Business Wire
Glancy, Prongay & Murray LLP (“GPM”) announces that it is
investigating potential claims on behalf of investors of Northwest
Biotherapeutics, Inc. (NASDAQ: NWBO) (“Northwest Bio” or “the
Company”) and whether the officers and directors complied with
their legal obligations to the Company and its shareholders.
On June 19, 2014, TheStreet.com published an article reporting
that MD Anderson Cancer Center, the entity that was running
Northwest Bio’s DCVax-Direct phase I/II clinical trial, rebuked the
Company for making promotional, unjustified claims about results
from the ongoing clinical trial of DCVax-Direct. The article also
reported that Dr. Aman Buzdar, the VP of clinical research at MD
Anderson, stated: “I have read the information that the company has
put in the public domain. It is extremely unusual and
inappropriate.”
On this news, shares of Northwest Bio fell $1.79 per share, or
nearly 20%, to close at $7.18 on June 19, 2014.
GPM’s investigation focuses on whether the Company and its
directors have breached any fiduciary duties owed to shareholders,
or otherwise committed corporate waste and/or permitted a lack of
adequate internal controls with respect to the Company’s
promotional statements about DCVax-Direct.
If you own Northwest Bio shares, if you have information or
would like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, of GPM,
1925 Century Park East, Suite 2100, Los Angeles, California 90067
at 310-201-9150, Toll-Free at 888-773-9224, by email to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20151123006401/en/
Glancy, Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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