NEW YORK, Oct. 31, 2014 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Arrowhead Research Corp.("Arrowhead" or the "Company") (Nasdaq:ARWR) of the December 9, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Arrowhead and certain executives.
A complaint has been filed in the United States District Court for the Central District of California on behalf of all persons who purchased Arrowhead common stock between August 12, 2014 and October 8, 2014, inclusive (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, Arrowhead made false and/or misleading statements regarding the effectiveness of the Company's experimental hepatitis B therapy ARC-520.
On October 8, 2014, an article published on TheStreet.com alleged that Arrowhead knew that ARC-520 was not as effective as it had purported.
Following this news, the price of Arrowhead stock declined by $5.48 per share, or over 43%, to close on October 8, 2014 at $7.03 per share.
Request more information now by clicking here: www.faruqilaw.com/ARWR. There is no cost or obligation to you.
Take Action
If you invested in Arrowhead common stock or options between August 12, 2014 and October 8, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/ARWR. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Arrowhead's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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