SAN DIEGO, Feb. 14, 2017 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending in Colorado on behalf of certain purchasers of shares of Clovis Oncology Inc (NASDAQ:CLVS) over alleged Securities Laws Violations by Clovis Oncology.
Investors who purchased shares of Clovis Oncology Inc (NASDAQ:CLVS) before May 2014 and continue to hold any NASDAQ:CLVS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On November 19, 2015, a lawsuit was filed against Clovis Oncology Inc over alleged securities laws violations. The plaintiff claimed that the defendants allegedly made false and misleading statements and/or failed to disclose that the NDA that Clovis submitted to the FDA for rociletinib contained immature data sets based on both unconfirmed response rates and confirmed response rates, that Clovis Oncology’s Breakthrough Therapy designation submission contained immature data sets based primarily on unconfirmed responses, that Clovis Oncology presented interim data publicly and at medical meetings that included a data set based primarily on unconfirmed responses, that as the efficacy data matured, the number of patients with an unconfirmed response who converted to a confirmed response was lower than expected, and that as a result of the foregoing, Clovis Oncology’s NDA was likely to be delayed and/or rejected by the FDA. On July 27, 2016, the defendants filed their motions to dismiss the case. On February 9, 2017, the judge presiding over the case refused to dismiss the lawsuit.
Those who purchased Clovis Oncology Inc (NASDAQ:CLVS) shares should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.