An investigation on behalf of current long term investors in Arrowhead Research Corp (NASDAQ:ARWR shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 02/02/2016 -- An investigation for shareholders in Arrowhead Research Corp (NASDAQ:ARWR) concerning potential breaches of fiduciary duties by certain directors of Arrowhead Research Corp was announced.
Investors who are current long term investors in Arrowhead Research Corp (NASDAQ:ARWR shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ:ARWR stocks follows a lawsuit filed recently against Arrowhead Research over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:ARWR stocks, concerns whether certain Arrowhead Research officers and directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the defendants violated Federal Securities Laws. Arrowhead Research Corporation is a biopharmaceutical company developing targeted RNAi therapeutics. Arrowhead's pipeline includes clinical programs in chronic hepatitis B virus and partner-based programs in obesity and oncology. ARC-520 is an RNAi-based therapeutic designed to treat chronic hepatitis B virus (HBV) infection. Shares of Arrowhead Research Corp (NASDAQ:ARWR) grew from $9.79 per share in May 2014 to as high as $16.96 per share in September 2014.
The plaintiff claims that Arrowhead allegedly materially misstated 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 Corp announced that data from the ongoing Phase 2a study of ARC-520, its RNAi therapeutic candidate for the treatment of chronic hepatitis B (HBV) infection, will be presented in the late-breaking poster session at the 2014 American Association for the Study of Liver Diseases (AASLD) Liver Meeting being held on November 7-11, 2014, in Boston.
On that same day, an article was published on that claimed 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.
On October 9, 2014, Arrowhead Research Corp issued an open letter to shareholders from President and CEO of Arrowhead Research Corp.
Shares of Arrowhead Research Corp (NASDAQ:ARWR) declined from $13.01 per share on October 7, 2014, to as low as $5.47 per share on October 8, 2014, respectively $6.75 per share on October 9, 2014.
Those who purchased shares of Arrowhead Research Corp (NASDAQ:ARWR) have certain options and should contact the Shareholders Foundation.
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