LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray announces that a class action has been filed on behalf of investors of Puma Biotechnology, Inc. ("Puma" or the "Company") (NYSE: PBYI) who purchased shares from July 23, 2014 through May 13, 2015, inclusive (the “Class Period”). The class action concerns the Company’s and its officers’ possible violations of federal securities laws, and the subsequent damage to Puma investors. Investors are encouraged to contact Lesley Portnoy, of Glancy Prongay & Murray to discuss the matter, prior to the August 3, 2015 deadline to file a lead plaintiff motion.
If you have information or would like to learn more about these claims, or have any questions concerning this announcement, please contact Lesley Portnoy, of Glancy Prongay & Murray, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
The Complaint alleges that Puma made false and/or misleading statements, and failed to disclose material adverse facts about the Company’s business, operations, prospects and performance. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) the Company’s NDA filing would be for a positive early stage breast cancer indication, instead of the previously announced metastatic breast cancer; (2) Puma would need to submit additional safety data from preclinical carcinogenicity studies with its NDA filing, which Puma did not have; (3) the additional required studies would necessarily push the time for filing the NDA into the first quarter of 2016; (4) the Company overstated results from its Phase III ExteNET Trial; and, (5) as a result of the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company and its outlook, including in its financial statements and about the ongoing ExteNET trial. When the true details entered the market, the lawsuit claims that investors suffered damages.
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