LOS ANGELES--(BUSINESS WIRE)--Glancy, Prongay & Murray LLP (“GPM”) announces that it is investigating potential claims on behalf of investors of Northwest Biotherapeutics, Inc. (NASDAQ: NWBO) (“Northwest Bio” or “the Company”) and whether the officers and directors complied with their legal obligations to the Company and its shareholders.
On June 19, 2014, TheStreet.com published an article reporting that MD Anderson Cancer Center, the entity that was running Northwest Bio’s DCVax-Direct phase I/II clinical trial, rebuked the Company for making promotional, unjustified claims about results from the ongoing clinical trial of DCVax-Direct. The article also reported that Dr. Aman Buzdar, the VP of clinical research at MD Anderson, stated: “I have read the information that the company has put in the public domain. It is extremely unusual and inappropriate.”
On this news, shares of Northwest Bio fell $1.79 per share, or nearly 20%, to close at $7.18 on June 19, 2014.
GPM’s investigation focuses on whether the Company and its directors have breached any fiduciary duties owed to shareholders, or otherwise committed corporate waste and/or permitted a lack of adequate internal controls with respect to the Company’s promotional statements about DCVax-Direct.
If you own Northwest Bio shares, if you have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 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.
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