San Diego, CA -- (SBWIRE) -- 10/18/2016 -- Certain directors of Puma Biotechnology are under investigation over possible misconduct. The investigation was announced for current long-term investors in NYSE:PBYI shares concerning potential breaches of fiduciary duties by certain directors of Puma Biotechnology Inc.
Investors who are current long term investors in Puma Biotechnology Inc (NYSE:PBYI) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm for investors in NYSE:PBYI stocks follows a lawsuit pending against Puma Biotechnology Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE:PBYI stocks, concerns whether certain Puma Biotechnology directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges that Defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that: (1) the Company's NDA filing would be for a positive early stage breast cancer indication, instead of the previously announced metastatic breast cancer; (2) Puma would need to submit additional safety data from preclinical carcinogenicity studies with its NDA filing, which Puma did not have; (3) the additional required studies would necessarily push the timeline for filing the NDA into the first quarter of 2016; (4) the Company overstated results from its Phase III ExteNET Trial; and (5) as a result of the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company and its outlook, including in its financial statements and about the ongoing ExteNET trial.
Those who purchased shares of Puma Biotechnology Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego