LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces that it is filing a class action lawsuit against Seattle Genetics, Inc. (“Seattle Genetics” or the “Company”) (Nasdaq: SGEN) concerning possible violations of federal securities laws. Investors who purchased or otherwise acquired Seattle Genetics shares between October 27, 2016 and December 23, 2016, inclusive (the “Class Period”), are encouraged to contact the firm prior to the March 17, 2017 lead plaintiff motion deadline.
If you are an investor who suffered a loss during the Class Period, we encourage you to click here or contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights without cost to you. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at firstname.lastname@example.org.
According to the Complaint, during the Class Period, defendants issued materially false and misleading statements to investors and/or failed to disclose that vadastuximab talirine, used as a cancer drug, holds a serious risk of fatal hepatotoxicity; that because of this, Seattle Genetics had exaggerated the use of vadastuximab talirine to treat acute myeloid leukemia; that as such, the Company’s public statements about Seattle Genetics’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
The Complaint further alleges that Seattle Genetics showed that the U.S. Food and Drug Administration had issued a clinical stop on initial stage trials of the Company's experimental cancer drug, vadastuximab talirine, to assess any potential outcome of hepatotoxicity. Seattle Genetics disclosed that six acute myeloid leukemia patients had liver toxicity and that four had died.
When this information was disclosed to the public, Seattle Genetics stock fell in value, causing investors serious harm.
If you have any questions concerning your legal rights, please immediately contact Goldberg Law PC at 800-977-7401, or visit our website at http://www.Goldberglawpc.com, or email us at email@example.com.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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