LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Kitov Pharmaceuticals Holdings LTD (“Kitov” or the “Company”) (Nasdaq: KTOV) concerning possible violations of federal securities laws. Investors who purchased Kitov American Depositary Receipts (“ADRs”) pursuant to the Company’s initial public offering on or about November 20, 2015 (the “IPO”) and/or between November 20, 2015 and February 3, 2017 inclusive (the “Class Period”), should contact the firm prior to the April 10, 2017 lead plaintiff motion deadline.
No class has been certified in the above action yet. 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.
The complaint alleges that during the Class Period, Kitov made false and/or misleading statements and/or failed to disclose that the Company and its CEO Isaac Israel, published misleading information concerning the conduct of the Company’s clinical trials for its lead drug candidate, KIT-302, and consequently, Kitov’s public statements were materially false and misleading at all relevant times.
On February 6, 2017, Calcalist, an Israeli publication, reported that Isaac Israel had been detained and questioned by the Israeli Securities Authority for allegedly publishing misleading information about the Company’s recent clinical trial. When this news information reached the investing public, Kitov’s stock price declined.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
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