A lawsuit was filed by an investors in NewLink Genetics Corp (NASDAQ:NLNK) over alleged breaches of fiduciary duty by certain directors.
San Diego, CA -- (SBWIRE) -- 06/26/2017 -- The Shareholders Foundation announces that an investor in shares of NewLink Genetics Corp (NASDAQ:NLNK) filed a lawsuit against certain directors of NewLink Genetics Corp over alleged breaches of fiduciary duties.
Investors who are current long term investors in NewLink Genetics Corp (NASDAQ:NLNK) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The plaintiff alleges that certain NewLink Genetics' officers and directors of mislead shareholders about the integrity and prospective results of its clinical trials for a vaccine to treat pancreatic cancer. More specifically the plaintiff alleges that utilizing false and misleading statements concerning the phase 2 trial results, and their initiation of the phase 3 IMPRESS study, defendants caused NewLink's stock price to be artificially inflated, thereby allowing certain of the defendants to reap millions of dollars through suspiciously timed sales of huge portions of their NewLink stock holdings.
Then on May 09, 2016, NewLink Genetics Corp (NASDAQ:NLNK) announced the results of its Phase 3 clinical trial for algenpantucel-L for patients with resected pancreatic cancer. NewLink Genetics Corp said that the IMPRESS Phase 3 study of algenpantucel-L for patients with resected pancreatic cancer did not achieve its primary endpoint. Shares of NewLink Genetics Corp (NASDAQ:NLNK) declined from $54.24 per share in September 2015 to as low as $9.23 per share on May 12, 2016.
Those who purchased shares of NewLink Genetics Corp have certain options and should contact the Shareholders Foundation.
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