NEW YORK, Oct. 24, 2014 (GLOBE NEWSWIRE) -- Rosen Law Firm reminds purchasers of Arrowhead Research Corp. common stock (Nasdaq:ARWR) during the period between August 12, 2014 and October 8, 2014 of the important December 9, 2014 lead plaintiff deadline in the class action filed by the firm.
To join the Arrowhead class action, go to the website at http://rosenlegal.com/cases-392.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action. The suit is pending in U.S. District Court for the Central District of California.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Arrowhead misrepresented 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 Research released disappointing data from its experimental hepatitis B therapy ARC-520. On that same day, an article published on TheStreet.com reported that Arrowhead Research 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 Research fell $5.48 per share, or over 43%, to close at $7.03 per share on October 8, 2014.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 9, 2014. If you wish to join the litigation go to http://rosenlegal.com/cases-392.html or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.