Morgan & Morgan Reminds Investors That a Class Action Lawsuit Has Been Filed Against Arrowhead Research Corporation -- ARWR


NEW YORK, Oct. 23, 2014 (GLOBE NEWSWIRE) -- Morgan & Morgan announces that a securities class action has been commenced in the United States District Court for the Central District of California on behalf of purchasers of common stock of Arrowhead Research Corporation ("Arrowhead") (Nasdaq:ARWR) during the period of August 12, 2014 through October 8, 2014, inclusive (the "Class Period").

If you purchased Arrowhead stock during the Class Period, you may, no later than December 9, 2014, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

If you want more information about the Arrowhead Research Corporation Securities Class Action please contact Morgan & Morgan at 1-800-732-5200 or email info@morgansecuritieslaw.com.

The class action alleges that the Company and certain of its officers and/or directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The complaint alleges that Arrowhead 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 released disappointing data from its ARC-520 therapy. On that same day, an article published on TheStreet.com reported that Arrowhead CEO Chris Anzalone and his team knew for months that ARC-520 dosed at 1 mg/kg and 2 mg/kg yielded only 0.2-log and 0.3-log reductions in hepatitis B viral load. Arrowhead executives had led investors to believe that ARC-520 was more potent and achieved substantially larger viral load reductions in the range of 0.7 log or higher. On the news of October 8th, shares of Arrowhead plummeted by $5.48 per share, or over 43%, to close at $7.03 per share.

About Morgan & Morgan

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