NEW YORK, Nov. 17, 2016 /PRNewswire/ -- Attorney
Advertising-- Bronstein, Gewirtz & Grossman, LLC notifies
investors that a class action lawsuit has been filed against ProNAi
Therapeutics, Inc. ("ProNAi" or the "Company") (NASDAQ: DNAI) and
certain of its officers, and is on behalf of shareholders
who purchased or otherwise acquired ProNAi securities between
July 15, 2015 and June 6, 2016, both dates inclusive (the "Class
Period"). Such investors are advised to join this case by
visiting the firm's site: http://www.bgandg.com/dnai.
This class action seeks to recover damages against Defendants
for alleged violations of the federal securities laws under the
Securities Exchange Act of 1934 (the "Exchange Act").
The Complaint alleges that throughout the Class Period,
Defendants made materially false and misleading statements about
the potential and effectiveness of its drug product candidate
PNT2258 in its public filings, causing ProNAi's stock to be falsely
inflated throughout the Class Period.
On June 6, 2016, ProNAi released
its interim results from the Wolverine Phase 2 trial of PNT2258 for
the treatment of relapsed or refractory (r/r) diffuse large B-cell
lymphoma (DLBCL). Nick Glover,
President and CEO said, "Although [PNT2258] observed modest
efficacy …in [the] interim analysis of Wolverine," the Company has
"decided to suspend the development of PNT2258" because the results
were not "robust enough to justify continued development of the
drug in DLBCL." Following this news, ProNAi stock dropped from a
previous market close on June 3 of
$6.38 per share to close at just
$2.07 per share on June 6, 2016.
A class action lawsuit has already been filed. If you wish to
review a copy of the Complaint you can visit the firm's site:
www.bgandg.com/dnai or you may contact Peretz Bronstein, Esq. or his Investor Relations
Analyst, Yael Hurwitz of Bronstein,
Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss
in ProNAi you have until January
9, 2017 to request that the Court appoint you as lead
plaintiff. Your ability to share in any recovery doesn't
require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not
guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
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