NEW YORK, Dec. 13, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of California on behalf of investors who purchased Vical Incorporated ("Vical" or the "Company") (Nasdaq:VICL) common stock between February 8, 2012 and August 12, 2013.
For more information, click here: http://zlk.9nl.com/vical-vicl/.
The complaint alleges that during the Class Period, Defendants misrepresented the Company's current and future business and financial condition. In particular it is alleged that the Company issued positive statements concerning its drug Allovectin-7 and the drug's potential for approval from the Food and Drug Administration. On August 12, 2013, the Company issued a press release stating that the Phase 3 trial of Allovectin-7 failed to "meet either the primary or secondary efficacy endpoints." The Company also announced it would terminate the Allovectin program. In reaction to the news, shares of Vical fell from a previous close of $3.58 to close at $1.53 per share on heavy trading volume.
If you suffered a loss in Vical you have until December 31, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/vical-vicl/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP