NEW YORK, April 29, 2014 /PRNewswire/ -- Pomerantz LLP is
investigating claims on behalf of investors of Biota
Pharmaceuticals, Inc. ("Biota" or the "Company") (NASDAQ: BOTA)
(CUSIP: 090694100). Investors are advised to contact
Robert S. Willoughby at
rswilloughby@pomlaw.com or 888-476-6529, ext. 237.
The investigation concerns whether Biota and certain of its
officers and/or directors have violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.
On April 29, 2014 the
Company announced in a Securities and Exchange Commission
(SEC) Form 8-K filing, "that it 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."
On this news, shares of Biota fell $1.93, or more than 34.67%, on intraday trading
to $3.64, on unusually heavy trading
volume.
The Pomerantz Firm, with offices in New York, Chicago, San
Diego, and Florida, is
acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late
Abraham L. Pomerantz, known as the
dean of the class action bar, the Pomerantz Firm pioneered the
field of securities class actions. Today, more than 70 years later,
the Pomerantz Firm continues in the tradition he established,
fighting for the rights of the victims of securities fraud,
breaches of fiduciary duty, and corporate misconduct. The Firm has
recovered numerous multimillion-dollar damages awards on behalf of
class members. See www.pomerantzlaw.com.
CONTACT:
Robert S.
Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
SOURCE Pomerantz LLP