A lawsuit was filed on behalf of investors in Northwest Biotherapeutics, Inc (NASDAQ:NWBO) shares over alleged securities laws violations and NASDAQ:NWBO investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/29/2015 -- A shareholder, who purchased NASDAQ:NWBO shares, filed a lawsuit against Northwest Biotherapeutics, Inc over alleged Securities Laws violations in connection with certain allegedly false and misleading statements.
Shares of Northwest Biotherapeutics, Inc (NASDAQ:NWBO) declined to as low as $6.16 per share on September 28, 2015.
Investors who purchased shares of Northwest Biotherapeutics, Inc (NASDAQ:NWBO) have certain options and for certain investors are short and strict deadlines running. Deadline: October 26, 2015. NASDAQ:NWBO investors should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The plaintiff alleges on behalf of purchasers of Northwest Biotherapeutics, Inc (NASDAQ:NWBO) common shares between March 8, 2013 and August 20, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 8, 2013 and August 20, 2015 Defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that Northwest Biotherapeutics' claims regarding positive results from its DCVax-Direct Trial were based on preliminary and unconfirmed trial results, that the DCVax-Direct Trial results on which Northwest Biotherapeutics reported had not been reviewed or analyzed by the hospitals conducting the trials, that Northwest Biotherapeutics' statements about DCVax-Direct were derived from patient case report forms, which the hospitals were obliged to send to the Company only because it sponsored the study, that Northwest Biotherapeutics was the subject of an aggressive stock promotion campaign which included promoters using fictitious identities and false credentials, that German regulators required additional information from Northwest Biotherapeutics in order for its DCVax-L Trial to continue uninterrupted, and that as a result of the above, Northwest Biotherapeutics' financial statements were materially false and misleading at all relevant times.
On June 19, 2014, an article was published that stated that "The prestigious MD Anderson Cancer Center issued a stern rebuke to Northwest Biotherapeutics (NWBO) for making promotional, unjustified claims about results from an ongoing clinical trial of an experimental cancer vaccine known as DCVax-Direct."
On July 7, 2014, a report published stated that Northwest Biotherapeutics, Inc has been the subject of a massive promotional campaign which has seen the stock price soar. And, in some cases, authors have used fictitious identities and fake credentials within healthcare or finance. In fact they are simply paid writers. On this news, shares of Northwest Biotherapeutics, Inc fell $0.52 per share to $6.62 in intraday trading on July 7, 2014.
On August 21, 2015, pre-market, news broke that Northwest Biotherapeutics, Inc's Phase 3 DCVax-L brain cancer treatment clinical trial in Germany was temporarily halted. A reason is yet to be provided, and Northwest Biotherapeutics is yet to address the issue publicly.
Those who purchased shares of Northwest Biotherapeutics, Inc (NASDAQ:NWBO) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego