A lawsuit was filed on behalf of investors in NASDAQ:KTOV shares over alleged securities laws violations and NASDAQ:KTOV investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/15/2017 -- An investor, who purchased shares of Kitov Pharmaceuticals Holdings Ltd (ADR) (NASDAQ:KTOV), filed a lawsuit in New York 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 for certain investors are short and strict deadlines running. Deadline: April 10, 2017. NASDAQ:KTOV investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
According to the complaint the plaintiff alleges on behalf of investors, who purchased or otherwise acquired Kitov Pharmaceuticals Holdings Ltd (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.
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.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com