Delcath Systems, Inc. (NASDAQ:DCTH) Investor Alert: Lawsuit Alleges Misleading Statements
A lawsuit was filed for certain investors in shares of Delcath Systems, Inc. (NASDAQ:DCTH) over alleged securities laws violations by Delcath Systems, Inc. Deadline: July 8, 2013. NASDAQ:DCTH investors should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWire) -- 05/13/2013 --An investor in shares of Delcath Systems, Inc. (NASDAQ:DCTH) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Delcath Systems, Inc. in connection certain allegedly false and misleading statements that were made between April 21, 2010 and May 2, 2013.
Investors who purchased a significant amount of shares of Delcath Systems, Inc. (NASDAQ:DCTH) between April 21, 2010 and May 2, 2013 and / or those who purchased NASDAQ: DCTH shares prior to April 2010 and currently hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: July 8, 2013. NASDAQ:DCTH investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf all persons or entities who purchased or otherwise acquired securities of Delcath Systems, Inc. (NASDAQ:DCTH) between April 21, 2010 and May 2, 2013, that Delcath Systems, Inc. and certain of its officers and directors violated the Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
More specifically, the plaintiff claims that the defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose thatthe Company's New Drug Application ("NDA") for Melblez Kit (Melblez (melphalan) for Injection for use with the Delcath Hepatic Delivery System), for the treatment of patients with unresectable ocular melanoma metastatic to the liver contained risks including substantial and severe toxicity and deaths associated with the drug's adverse reactions and that the Company's manufacturing facilities were in violation of Current Good Manufacturing Practices ("cGMP").
On February 22, 2011, Delcath Systems disclosed that it had received a "refusal to file" letter from the U.S. Food & Drug Administration ("FDA").
Shares of Delcath Systems declined from $11.30 per share on Feb. 18, 2011 to $6.29 per share on Feb. 25, 2011.
On April 30, 2013, the FDA published briefing documents ahead of a May 2, 2013 meeting by the Oncologic Drugs Advisory Committee.
Shares of Delcath Systems declined from $1.51 per share on April 29, 2013, to $0.78 per share on April 30, 2013.
Then on May 2, 2013, Delcath Systems, Inc. announced that the FDA Advisory Committee voted 16-0 against recommending the company's Melblez kit therapy for treatment of hepatic-dominant metastatic ocular melanoma.
Shares of Delcath Systems, Inc. (NASDAQ:DCTH) declined from $1.505 per share on April 29, 2013, to $0.406 per shares on May 3, 2013.
On May 10, 2013, NASDAQ:DCTH shares closed at $0.41 per share.
Those who purchased shares of Delcath Systems, Inc. (NASDAQ:DCTH), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
Media Relations Contact
Shareholders Foundation, Inc.
View this press release online at: http://rwire.com/250852