STEVENSON, Md., Sept. 02, 2015 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the District of Maryland on behalf of purchasers of Northwest Biotherapeutics, Inc. (NasdaqCM:NWBO) (“Northwest Biotherapeutics” or the “Company”) securities during the period between March 8, 2013 and August 20, 2015, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until October 26, 2015 to seek appointment as lead plaintiff.
Northwest Biotherapeutics is headquartered in Maryland. Brower Piven is the only firm headquartered in Maryland with a practice dedicated primarily to shareholder class action litigation.
If you have suffered a loss from investment in Northwest Biotherapeutics securities purchased on or after March 8, 2013 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company securities during the Class Period. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
The Complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that the Company’s claims regarding positive results from its DCVax-Direct Trial were based on preliminary and unconfirmed trial results that had not been reviewed or analyzed by the hospitals conducting the trials and that the Company was the subject of an aggressive stock promotion campaign which included promoters using fictitious identities and false credentials, and that German regulators required additional information to consider whether to allow the DCVax-L Trial to continue uninterrupted.
According to the Complaint, following: (1) a June 19, 2014 report from, The Street.com that MD Anderson Cancer Center had issued a stern rebuke to Northwest Bio for promoting, unjustified claims about results from the ongoing clinical trial of DCVax-Direct; (2) a July 7, 2014, report published on SeekingAlpha.com stating that the Company was the subject of a massive promotional campaign where in some cases, authors have used fictitious identities and fake credentials when they are actually paid writers; (3) an August 21, 2015 pre-market news story revealing that the Company’s Phase 3 DCVax-L brain cancer treatment clinical trial in Germany was temporarily suspended; and (4) a Company announcement that same day that new screening of patient candidates for the trial had been temporarily suspended while the Company submitted certain information from the trial for regulatory review, the value of Northwest Biotherapeutics shares declined significantly.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 firstname.lastname@example.org
Source: Brower Piven, A Professional Corporation