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LAWSUITS NEWS & LEGAL INFORMATION

Peregrine Pharmaceuticals, Inc PPHM Securities Lawsuit


Company: Peregrine Pharmaceuticals, Inc
Ticker Symbol: PPHM
Class Period: Oct-3-12 to Sep-26-12
Date Filed: Oct-3-12
Lead Plaintiff Deadline: Dec-2-12
Court: Central District of California
Allegations:
San Francisco, CA: A securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of a class (the "Class") consisting of all purchasers of the securities of Peregrine Pharmaceuticals, Inc. ("Peregrine" or the "Company") (NASDAQ:PPHM) between July 17, 2012 and September 26, 2012, inclusive (the "Class Period").

Peregrine is a biopharmaceutical company with a portfolio of innovative monoclonal antibodies in clinical trials focused on the treatment and diagnosis of cancer. The Company is pursuing multiple clinical programs in cancer with its lead product candidate, bavituximab, and novel brain cancer agent Cotara.

The Complaint alleges that throughout the Class Period the defendants issued false and/or misleading statements or failed to disclose material adverse facts about Peregrine's business and financial prospects, including that: (1) there were major discrepancies between some patient sample test results and patient treatment code assignments; (2) as such, the clinical data from the Company's randomized, double-blind placebo-controlled Phase II trial of bavituximab in second-line non-small cell lung cancer was unreliable; and (3) as result of the foregoing, the defendants' positive statements about Peregrine's business, operations, and prospects, including those statements relating to the clinical data from the Company's randomized, double-blind placebo-controlled Phase II trial of bavituximab in second-line non-small cell lung cancer lacked a reasonable basis.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Peregrine Pharmaceuticals, Inc PPHM Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Peregrine Pharmaceuticals, Inc securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.
Published on Oct-9-12


READER COMMENTS

Posted by

on
I purchased stock because of seeking alpha gave a plus reading. I bought in close to $4.00 this has tremendously affected me financially stock now .58 cents. I would like to be reimbursed. Seeking alpha should also be punished

Posted by

on
I too have this stock April 2014 and now loses would be about 50K if I sell now. Would be interested in talking with someone about an evaluation about this class action lawsuit.

Posted by

on
I have had this stock for over 10 years and now have loses over 50K. Would be interested in talking with someone about an evaluation about this class action lawsuit.

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