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Puma Biotechnology, Inc.

Period: Feb 29, 2016 to May 4, 2017

Lead Plaintiff Deadline: Jul 7, 2017

Summary of Case:

A securities class action has been filed against Puma Biotechnology, Inc. (NASDAQ:PBYI) on behalf of a class consisting of investors who purchased or otherwise acquired Puma securities between February 29, 2016 through May 4, 2017.  This case has been filed in the USDC - Central District of California.

 

Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:  (i) the Company did not anticipate that the U.S. Food and Drug Administration’s (“FDA”) would ultimately approve neratinib for the treatment of breast cancer; (ii) as such, Puma had overstated the drug’s approval prospects and/or commercial viability; and (iii) as a result, Puma’s public statements were materially false and misleading at all relevant times.

 

On May 4, 2017, post-market, Puma disclosed the resignation of Dr. Robert Charnas, the Company’s Senior Vice President, Regulatory Affairs, citing “health reasons.”  Dr. Charnas’ resignation will be effective as of May 15, 2017, nine days before the FDA scheduled review of Puma’s breast cancer drug neratinib on May 24.  On this news, Puma’s share price fell $5.85, or 16.01%, to close at $30.70 on May 5, 2017.


On May 5, 2017, Fox Business published an online article entitled “Why Puma Biotechnology Shares are Crashing 18.2% Today.”

If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.

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