A Deadline is coming up on April 10, 2017 in the lawsuit for investors in Kitov Pharmaceuticals Holdings Ltd (ADR) and NASDAQ:KTOV stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/07/2017 -- The Shareholders Foundation announces that a deadline is coming up on April 10, 2017 in the lawsuit filed for certain investors of Kitov Pharmaceuticals Holdings Ltd (ADR) (NASDAQ:KTOV) over alleged securities laws violations by Kitov Pharmaceuticals Holdings Ltd.
Investors who purchased shares of Kitov Pharmaceuticals Holdings Ltd (ADR) (NASDAQ:KTOV) have certain options and there are strict and short deadlines running. Deadline: April 10, 2017. NASDAQ:KTOV stockholders should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges on behalf of purchasers of Kitov Pharmaceuticals Holdings Ltd (ADR) (NASDAQ:KTOV) American Depositary Receipts ("ADRs") pursuant and/or tradeable to the Company's initial public offering on or about November 20, 2015 (the "IPO") and/or on the open market between November 20, 2015 and February 3, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 20, 2015 and February 3, 2017 the Defendants made false and/or misleading statements and/or failed to disclose that the Company and its Chief Executive Officer ("CEO") Isaac Israel published misleading information concerning the conduct of the Company's clinical trials for its lead drug candidate KIT-302, and that as a result of the foregoing, Kitov's public statements were materially false and misleading at all relevant times.
Kitov Pharmaceuticals Holdings Ltd is an Israel-based company that develops non-steroidal anti-inflammatory drugs that treat pain without raising blood pressure, thus avoiding the increased risk of heart attacks, strokes or death. Kitov Pharmaceuticals Holdings Ltd went public on the NASDAQ in November 2015. Shares of Kitov Pharmaceuticals Holdings Ltd (ADR) (NASDAQ:KTOV) reached as high as$6.56 per share in May 2016.
On February 6, 2017, the Israeli publication Calcalist reported that Kitov Pharmaceuticals Holdings Ltd's chief executive officer Isaac Israel had been detained and questioned by the Israeli Securities Authority on suspicion of publishing misleading information in connection with a recent clinical trial of one of the Company's products.
On February 7, 2017, the NASDAQ halted trading of Kitov Pharmaceuticals Holdings Ltd's ADRs. That same day, Kitov Kitov Pharmaceuticals Holdings Ltd issued a news release, formally advising investors of the Israeli Securities Authority's investigation into the Company's public disclosures regarding KIT-302.
Those who purchased shares of Kitov Pharmaceuticals Holdings Ltd (ADR) have certain options and should contact the Shareholders Foundation.
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