NEW ORLEANS, March 18, 2013 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., announces that after the market closed on March 18, 2013, Affymax Inc. (Nasdaq:AFFY) reported that it may file for bankruptcy protection. Following this report, shares of Affymax declined an additional 50% - - falling to an all-time trading low of $1.24 per share.
KSF remind investors that they have until April 29, 2013 to file lead plaintiff applications in a securities class action lawsuit against Affymax, Inc., if they purchased the Company's common stock during the period between December 8, 2011 and February 22, 2013, inclusive (the "Class Period"). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased shares of Affymax, Inc. and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (email@example.com), toll free, 877-515-1850, or via cell phone any time at 504-301-7900. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 29, 2013.
About the Lawsuit
Affymax and certain of its senior executives are charged with issuing a series of materially false and misleading statements, during the Class Period, in violation of federal securities laws. These false statements and omissions included, in part, that: (i) Affymax was suffering from deficient internal controls and procedures; (ii) Affymax had filed to disclose its true financial and operational condition; and (iii) it failed to disclose that its financial statements were materially false and misleading.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.
CONTACT: Kahn Swick & Foti, LLC Lewis Kahn, Managing Partner, 877-515-1850 or after hours via cell phone 504-301-7900 firstname.lastname@example.org 206 Covington St. Madisonville, LA 70447Source:Kahn Swick & Foti, LLC