SAN DIEGO, Dec. 21, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in Texas on behalf of certain purchasers of shares of XBiotech Inc (NASDAQ:XBIT) over alleged Securities Laws Violations by XBiotech.
Investors who purchased shares of XBiotech Inc (NASDAQ:XBIT) have certain options and for certain investors are short and strict deadlines running. Deadline: February 1, 2016. NASDAQ:XBIT investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff claims that defendants issued certain allegedly materially false and misleading statements to investors and/or failed to disclose that a fewer number of per protocol patients were available for primary endpoint evaluation in the Phase III Study, that the data from 72 patients of the Phase III Study was compromised, that XBiotech did not adequately sample patients to accommodate data loss, that as a result of not properly sampling patients for the Phase III Study, the Phase III Study would have reduced statistical power to demonstrate the proposed outcome, and that as a result of the foregoing, Defendants’ statements about its business, operations, and prospects, including statements about the Phase III Study and clinical development of Xilonix, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On November 23, 2015, XBiotech Inc provided an update on the phase III oncology study in Europe. XBiotech Inc disclosed that data for 72 patients in its study of True Human(TM) therapeutic antibodies have been compromised and are not available for primary endpoint evaluation due to irregularities. XBiotech Inc said that these irregularities include patients dropping off the study prior to receiving any dosing with drug or placebo, erroneously receiving either placebo or study drug, and failing to receive scheduled DEXA scans, properly complete EORTC evaluation, or both.
Those who purchased XBiotech Inc (NASDAQ:XBIT) shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at firstname.lastname@example.org or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT: Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554 email@example.com 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
Source:Shareholders Foundation, Inc.