A lawsuit was filed by an investor in shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) over alleged breaches of fiduciary duties and NASDAQ:PPHM stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 10/23/2013 --An investor who holds shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) filed a lawsuit against directors of Peregrine Pharmaceuticals in connection with allegedly excessive compensation.

If you purchased shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) you have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:PPHM stockholders by agreeing to excessive compensation that included favorable stock options granted days before favorable news about one of its signature cancer treatments

Peregrine Pharmaceuticals (NASDAQ:PPHM) reported that its Total Revenue rose from $15.23 million for the 12 months period that ended on April 30, 2012 to $21.68 million for the 12 months period that ended on April 30, 2013 and that its respective Net Loss declined from $42.12 million to $29.78 million.

Shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) traded in early 2013 as high as $2.43 per share.

On Oct. 22, 2013, NASDAQ:PPHM shares closed at $1.40 per share.

Those who purchased shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com