SANTA ANA, Calif.--(BUSINESS WIRE)--This is a court-approved notice by Robbins Geller Rudman & Dowd LLP regarding a trial verdict in favor of persons who purchased or acquired Puma Biotechnology, Inc. common stock during the period July 22, 2014 to May 13, 2015:
Important Notice from the United States District Court for the Central District of California
In the case of HsingChing Hsu v. Puma Biotechnology, Inc., et al., No. 8:15-cv-00865, a two week trial began on January 15, 2019 in the United States District Court for the Central District of California, Southern Division.
On February 4, 2019, the jury returned a verdict.
The jury found that defendants Puma Biotechnology, Inc. and Alan H. Auerbach violated the federal securities laws by making false and misleading statements about the efficacy of Puma’s drug, neratinib, in a clinical trial and that defendants did so in knowing violation of sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
As a result of this fraudulent conduct, the jury determined that Puma’s stock price was artificially inflated by $4.50 per share between July 22, 2014 and May 13, 2015.
The jury verdict will result in the payment of damages, plus interest and minus certain deductions, to eligible Class Members who file a timely and valid Proof of Claim form.
Class Members whose claims are approved will be entitled to receive all of their damages, plus interest, less their proportionate share of any fees and expenses awarded by the Court.
To recover damages, you must submit a valid Proof of Claim form no later than January 28, 2020.
Late filed claims will only be accepted with the approval of the Court.
To file a claim for damages, review court documents from the case, and learn more about the claims process and your rights as a class member, please visit the case website below: