Health & Fitness
Health and Fitness
Health and Fitness
Thu, September 22, 2011
Wed, September 21, 2011
Less Than Two Weeks Remain before Deadline in Class-Action Lawsuit against Dendreon, Says Hagens Berman
SEATTLE--([ BUSINESS WIRE ])--Hagens Berman Sobol Shapiro LLP reminds investors that those who wish to serve as lead plaintiff in a class-action lawsuit against Dendreon (NASDAQ:DNDN) have less than two weeks from today to file their motion.
Investors who purchased common shares of Dendreon between January 7, 2011, and August 3, 2011, (the aClass Perioda) are encouraged to contact Peter Borkon of Hagens Berman at 206-623-7292 or via email at [ dndn@hbsslaw.com ]. Any member of the putative class may move the court to serve as lead plaintiff through counsel of his or her choice, or may choose to do nothing and remain an absent class member.
Hagens Berman filed its lawsuit on August 5, 2011, in the United States District Court for the Western District of Washington. The suit seeks to recover damages on behalf of all purchasers of the common stock of Dendreon during the Class Period. The case, Ems v. Dendreon, et al., was assigned number 2:11-cv-01294.
Dendreona™s August 3, 2011, announcement that its financial results would be below analystsa™ expectations and its withdrawal of financial projections for the full year, shocked investors and analysts alike. On the news, the companya™s stock dropped from a closing price of $33.65 on August 3, 2011 to an opening price of $12.73 on August 4, 2011. Dendreon is trading below $11 as of this release.
Dendreon has publicly stated that the reasons for withdrawing earnings include a more gradual adoption of Provenge by doctors, who still fear they may not or will not be reimbursed in a timely manner.
More information about the case is available at [ www.hbsslaw.com/dendreon ].
Seattle-based Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law firm with offices in ten cities. Founded in 1993, the firma™s mission is to represent plaintiffs in class actions and multi-party, large-scale litigation that has the potential to protect the rights of investors, consumers, workers and the environment. The National Law Journal has rated Hagens Berman as one of the top ten plaintiffsa™ firms in the country four out of the last five years. More information about the firm is available at [ www.hbsslaw.com ] and the firma™s securities law blog is at [ www.meaningfuldisclosure.com ].
