A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Pain Therapeutics Inc (NASDAQ: PTIE) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on January 16, 2017 and NASDAQ: PTIE investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 01/10/2017 --The Shareholders Foundation announced that a deadline is coming up on January 16, 2017 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Pain Therapeutics Inc (NASDAQ: PTIE) between December 27, 2010 to June 26, 2011.

Investors who purchased a significant amount of shares of Pain Therapeutics Inc (NASDAQ: PTIE) between December 27, 2010 to June 26, 2011, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the Pain Therapeutics Inc (NASDAQ: PTIE) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/pain-therapeutics-inc-nasdaq-ptie-investor-securities-class-action-lawsuit-12022011

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is January 16, 2017. The class action administrator for this case is KCC Class Action Services.

The lawsuit was originally filed in the U.S. District Court for the Western District of Texas against Pain Therapeutics Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 3, 2011 and June 23, 2011.

According to the complaint the plaintiff alleges that Pain Therapeutics Inc and certain of its officers violated under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. Sections 78j(b) and 78t(a); and SEC Rule 10b-5 promulgated thereunder by the SEC, 17 C.F.R. Section 240.10b-5 by issuing allegedly false and/or misleading statements and/or by failing to disclose material facts about a new drug, REMOXY.

Those who purchased shares of Pain Therapeutics Inc (NASDAQ: PTIE) 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