NEW YORK, May 9, 2014 /PRNewswire/ -- Faruqi & Faruqi,
LLP, a leading national securities law firm, is investigating
potential securities fraud at Biota Pharmaceuticals, Inc. ("Biota"
or the "Company") (NasdaqGS: BOTA).
On April 29, 2014
Biota revealed alarming news about the Company. The 8-K
stated, in relevant part, that Biota "has been notified by the U.S.
Department of Health and Human Services (HHS) office of the
Assistant Secretary for Preparedness and Response (ASPR) and
Biomedical Advanced Research and Development Authority (BARDA) that
pending a decision regarding the outcome of a recently completed In
Process Review (IPR) of the Company's contract for the development
of laninamivir octanoate, which the Company is developing for the
treatment of influenza A and B infections in the United States through a contract with
BARDA, ASPR/BARDA, has issued a Stop-Work Order notifying the
Company to discontinue work on a number of activities under its
contract."
The April 29 disclosure caused
Biota shares to plummet by $1.93, or
roughly 34 percent, from the previous day's closing price of
$5.57.
Request more information now by clicking here:
www.faruqilaw.com/BOTA. There is no cost or obligation to
you.
Take Action
If you invested in Biota stock or options and would like to
discuss your legal rights, visit www.faruqilaw.com/BOTA. You
can also contact us by calling Richard
Gonnello toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to rgonnello@faruqilaw.com. Faruqi &
Faruqi, LLP also encourages anyone with information regarding
Biota's conduct to contact the firm, including whistleblowers,
former employees, shareholders and others.
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manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello,
Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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SOURCE Faruqi & Faruqi, LLP