Arrowhead Research Corp (NASDAQ:ARWR) Investor Alert: Lawsuit Alleges Misleading Statements
A lawsuit was filed on behalf of investors in Arrowhead Research Corp (NASDAQ:ARWR) shares over alleged securities laws violations. Deadline: December 9, 2014. NASDAQ:ARWR investors should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (ReleaseWire) -- 10/20/2014 -- An investor, who purchased shares of Arrowhead Research Corp (NASDAQ:ARWR), filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Arrowhead Research in connection with certain allegedly false and misleading statements made between August 12, 2014 and October 8, 2014.
Investors who purchased shares of Arrowhead Research Corp (NASDAQ:ARWR) have certain options and for certain investors are short and strict deadlines running. Deadline: December 9, 2014. NASDAQ:ARWR investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Arrowhead Research Corp (NASDAQ:ARWR) common shares between August 12, 2014 and October 8, 2014, that the defendants violated Federal Securities Laws.
Arrowhead Research Corporation is a biopharmaceutical company developing targeted RNAi therapeutics. Arrowhead’s pipeline includes clinical programs in chronic hepatitis B virus and partner-based programs in obesity and oncology. ARC-520 is an RNAi-based therapeutic designed to treat chronic hepatitis B virus (HBV) infection. Shares of Arrowhead Research Corp (NASDAQ:ARWR) grew from $9.79 per share in May 2014 to as high as $16.96 per share in September 2014.
The plaintiff claims that Arrowhead allegedly materially misstated clinical trial information from its experimental hepatitis B therapy ARC-520 by falsely suggesting that the Company's therapy was more effective than it actually was.
On October 8, 2014, Arrowhead Research Corp announced that data from the ongoing Phase 2a study of ARC-520, its RNAi therapeutic candidate for the treatment of chronic hepatitis B (HBV) infection, will be presented in the late-breaking poster session at the 2014 American Association for the Study of Liver Diseases (AASLD) Liver Meeting being held on November 7-11, 2014, in Boston. On that same day, an article was published on that claimed Arrowhead Research CEO Chris Anzalone and his team knew for months that ARC-520 dosed at 1 mg/kg and 2 mg/kg yielded 0.2-log and 0.3-log reductions in hepatitis B viral load. On October 9, 2014, Arrowhead Research Corp issued an open letter to shareholders from President and CEO of Arrowhead Research Corp.
Shares of Arrowhead Research Corp (NASDAQ:ARWR) declined from $13.01 per share on October 7, 2014, to as low as $5.47 per share on October 8, 2014, respectively $5.50 per share on October 14, 2014.
On October 16, 2014, NASDAQ:ARWR shares closed at $7.02 per share.
Those who purchased shares of Arrowhead Research Corp have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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