ARROWHEAD RESEARCH CORP. SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors wit...
November 28 2014 - 10:00PM
Business Wire
Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former
Attorney General of Louisiana, Charles C. Foti, Jr., remind
investors that they have until December 9, 2014 to file lead
plaintiff applications in a securities class action lawsuit against
Arrowhead Research Corp. (“Arrowhead” or the “Company”) (NASDAQ:
ARWR) if they purchased the Company’s securities between August 12,
2014 and October 8, 2014, inclusive (the “Class Period”). This
action is pending in the United States District Court for the
Central District of California.
What You May Do
If you purchased shares of Arrowhead during the Class Period, or
during the Company’s February 24, 2014 offering, and would like to
discuss your legal rights and how this case might affect you and
your right to recover for your economic loss, you may, without
obligation or cost to you, call toll-free at 1-877-515-1850 or
email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve
as a lead plaintiff in this class action, you must petition the
Court by December 9, 2014.
About the Lawsuit
Arrowhead and certain of its executives are charged with failing
to disclose material information during the Class Period, violating
federal securities laws.
According to the complaint, Arrowhead materially misstated
clinical trial information from its experimental hepatitis B
therapy ARC-520 by falsely suggesting that the Company's therapy
was more effective than it actually was. On October 8, 2014,
Arrowhead released disappointing data from its experimental
hepatitis B therapy ARC-520. On the same day, an article published
on TheStreet.com reported that Arrowhead CEO Chris Anzalone and his
team knew for months that ARC-520 dosed at 1 mg/kg and 2 mg/kg
yielded 0.2-log and 0.3-log reductions in hepatitis B viral load.
Yet, Arrowhead executives led investors to believe that ARC-520 was
more potent and achieved viral load reductions in the range of
0.7-log or higher. On this news, shares of Arrowhead fell $5.48 per
share, or over 43%, to close at $7.03 per share.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former
Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers
with significant experience litigating complex securities class
actions nationwide on behalf of both institutional and individual
shareholders, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLCLewis Kahn, Managing Partner,
1-877-515-1850lewis.kahn@ksfcounsel.com
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