LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC , a shareholder rights firm, announces a class action lawsuit against Arrowhead Pharmaceuticals, Inc. (“Arrowhead” or the “Company”) (Nasdaq: ARWR) concerning possible violations of federal securities laws between May 11, 2015 and November 8, 2016 inclusive (the “Class Period”). Investors, who purchased or otherwise acquired shares during the Class Period, are encouraged to contact the firm in advance of the January 17, 2017 lead plaintiff motion deadline.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, Arrowhead made false and misleading statements and/or failed to disclose: that its drug candidate ARC-520 was fatal at certain doses; that the U.S. Food & Drug Administration was unlikely to approve ARC-520 as a hepatitis B treatment; that the Company overstated the approval prospects and commercial viability of ARC-520; and that as a result of the above, Arrowhead’s public statements were materially false and misleading at all relevant times.
On November 8, 2016 announcement where Arrowhead revealed that the U.S. Food & Drug Administration will be placing a clinical hold on its Heparc-2004 clinical study of ARC-520, likely due to deaths at the highest dose of an ongoing non-human primate toxicology study.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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