STEVENSON, Md., June 11, 2018 (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 Northern District of California on behalf of purchasers of Prothena Corporation plc (Nasdaq: PRTA ) (“Prothena” or the “Company”) securities during the period between October 15, 2015 to April 20, 2018, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until July 16, 2018 to seek appointment as 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 Prothena securities during the Class Period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
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 NEOD001, an antibody designed to treat AL amyloidosis, was not effective, particularly when evaluated under customary standards.
According to the complaint, following a June 29, 2017 report questioning whether NEOD001 was effective and openly accused Prothena of presenting the early trial data in a misleading manner, a November 8, 2017 report exposing why Prothena’s Phase 1/2 study results were misleading, a February 2, 2018 announcement of the resignation of the Company’s Chief Medical Officer, and an April 23, 2018 announcement that the Company was ending all development of NEOD001, the value of Prothena declined significantly.
If you have suffered a loss in excess of $100,000 from investment in Prothena securities purchased on or after October 15, 2015 and held through the revelation of negative information during and/or at the end of the Class Period 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 contact Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
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.
Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 hoffman@browerpiven.com
