NEW YORK, July 1, 2014 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Indiana on behalf of investors, who purchased Endocyte, Inc. ("Endocyte" or the "Company") (Nasdaq:ECYT) common stock between March 21, 2014 and May 2, 2014, inclusive.
Investors, who directly purchased shares of the Company on the March 27, 2014 Secondary Offering underwritten by Credit Suisse, Citigroup, Cowen and Company, RBC Capital Markets, Baird, Wedbush and Roth Capital Markets, are encouraged to contact us to discuss your rights in this action.
The complaint alleges that throughout the Class Period, the Company and senior management issued misleading statements and omitted material information regarding the efficacy of the Company's experimental drug VYNFINIT, and misrepresented and/or failed to disclose material information regarding the Company's business and financial prospects. In particular, it is alleged that Endocyte misrepresented the nature of positive statements made about the drug in a March 21, 2014 press release, ultimately capitalizing on the resulting stock price increase to issue a secondary public offering and sell shares at a substantially inflated price.
Wolf Haldenstein has represented individual and institutional investors for many years, serving as lead counsel in numerous cases in United States federal and state courts. Please visit the Wolf Haldenstein website (http://www.whafh.com) for more information about the firm.
If you are a shareholder of Endocyte, who suffered a loss on shares purchased during the class period and/or directly on the Secondary Offering, you may, no later than August 25, 2014, request that the Court appoint you as lead plaintiff of the class. If you are an Endocyte shareholder that suffered a material loss and would like additional information concerning your rights in this matter, please contact us immediately:
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Wolf Haldenstein Adler Freeman & Herz LLP
270 Madison Avenue
New York, New York 10016
Attorney Advertising. Prior results do not guarantee or predict a similar outcome.