Overstating Clinical Trial Results
Philip Morris International, Inc. has been developing a series of products that pose smaller health risks than traditional tobacco products. However, the complaint for this class action alleges that the company did not disclose information on clinical studies that might interfere with the products’ approval by the Food and Drug Administration (FDA). The company’s SEC filings during the class period cite positive study results, but a Reuters article alleges that the studies were poorly conducted, with inadequate training and professionalism on the part of some of its lead investigators. The complaint claims that the failure to report this information is a violation of the 1934 Act.
This securities class action lawsuit allege Spectrum Pharmaceuticals overstated the likelihood that the FDA would approve of EVOMELA for treatment of multiple myeloma.
This securities class action alleges that Amicus Therapeutics made false, misleading and material representations to the market regarding a meeting held with the U.S. Food and Drug Administration regarding the development of the company's new drug, migalasta.
The lawsuit alleges a host of material nondisclosures by the company artificially inflated the stock price, including that (1) Cellceutix’s antibiotic drug candidate Brilacidin was ineffective; (2) Cellceutix’s anti-cancer drug candidate Kevetrin does not activate the p-53 gene, which suppresses tumors; and (3) Cellceutix’s co-founder and Director, Krishna Menon, did not earn his PhD in Pharmacology from Harvard University.
This securities class action alleges that executives at Northwest Biotherapeutics overstated or misstated results from ongoing clinical trials of certain therapies and engaged in an undisclosed stock promotion campaign to artificially inflate the company's stock price.