NEW YORK, Aug. 14, 2007 (PRIME NEWSWIRE) -- The Rosen Law Firm (http://www.rosenlegal.com) announced today that a class action has been commenced in the United States District Court for the Western District of Washington on behalf of purchasers of Northwest Biotherapeutics, Inc. ("Northwest") (OTCBB:NWBO) common stock during the period from July 9, 2007 through July 16, 2007 (the "Class Period").
To join the Northwest Biotherapeutics securities litigation as a plaintiff or for further information, please call Laurence Rosen, Esq. or Phil Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com.
You can join the class action online at http://www.rosenlegal.com.
A class action lawsuit has already been filed on behalf of Northwest Biotherapeutics shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than October 12, 2007. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. or Phil Kim Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com . No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. You may also remain an absent class member.
The complaint charges Northwest Biotherapeutics and certain of its officers and directors with violations of the Securities Exchange Act for allegedly issuing false and misleading statements about its lead drug candidate DCVax-Brain.
On July 9, 2007 the Company issued a press release entitled "World's First Therapeutic Vaccine for Brain Cancer Commercially Available to Patients in Switzerland." The release stated that Northwest Biotherapeutics received an "authorization for use" from the Swiss authorities and that "DCVax-Brain is the first commercially available therapeutic vaccine for such cancers. The Company intends to begin making the product available to patients in Q3 2007." A week later, on July 16, 2007, Northwest Biotherapeutics issued another press release explaining that the authorization it received was really just for import/export purposes, and was conditional even for those limited purposes. Northwest Biotherapeutics stated that the Swiss government has not yet reviewed DCVax for neither safety nor efficacy. Northwest Biotherapeutics' stock which traded up from $2.30 per share to as high as over $7 per share during the Class Period has since dropped to below $3 per share.
The Rosen Law Firm http://www.rosenlegal.com has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.