SAN DIEGO, March 4, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of purchasers of Affymax, Inc. (AFFY) common stock during the period between December 8, 2011 and February 22, 2013 over alleged violations of Federal Securities Laws by Affymax, Inc. in connection with certain allegedly false and misleading statements.
If you purchased a significant amount of common stock of Affymax, Inc. (AFFY) between December 8, 2011 and February 22, 2013, you have certain options and you should contact the Shareholders Foundation, Inc. by e-mail at firstname.lastname@example.org or call +1 (858) 779-1554.
Affymax has a strategic alliance agreement with Takeda to develop and commercialize OMONTYS Injection, which is a treatment for anemia due to chronic kidney disease in adult patients on dialysis.
The plaintiff alleges that defendants failed to disclose that 2% of patients who were administered Omontys experienced hypersensitivity reactions resulting in anaphylaxis, a serious and life-threatening allergic reaction, a third of which needed medical intervention – and that 0.02% of those administered the drug experienced fatal anaphylaxis reactions. The plaintiff claims that Affymax stock traded at artificially inflated prices between December 8, 2011 and February 22, 2013, reaching a high of $27.74 per share in intraday trading on October 17, 2012.
Then, on February 23, 2013, Affymax and Takeda announce a nationwide recall of all Lots of OMONTYS® (peginesatide) Injection. Affymax, Inc said the recall is a result of new postmarketing reports regarding serious hypersensitivity reactions, including anaphylaxis. The U.S. Food and Drug Administration said it has been notified of 19 reports of anaphylaxis from dialysis centers in the United States.
Shares of Affymax, Inc. (AFFY) dropped from $16.53 per share on February 22, 2013, to as low as $2.34 per share on February 25, 2013.
Those who purchased shares of Affymax, Inc. have certain options and should contact the Shareholders Foundation, Inc. by e-mail at email@example.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and 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.
The Shareholders Foundation, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6931
CONTACT: Shareholders Foundation, Inc. Trevor Allen +1 (858) 779-1554 firstname.lastname@example.org 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
Source:Shareholders Foundation, Inc.