Endocyte allegations garner securities class action lawsuit

Endocyte Class Action Lawsuit

A law office recently noted that it filed a securities class action lawsuit against a pharmaceutical firm due to potential securities law violations.

Robbins Arroyo, LLP, announced that the litigation was filed in the U.S. District Court for the Southern District of Indiana against Endocyte, Inc. This includes all shareholders who acquired interests in the company during the class period between March 21, 2014 and May 2, 2014.

The allegations in the lawsuit focus on the leaders of Endocyte potentially violating the Securities and Exchange Act of 1934, specifically Section 10(b) and Rule 10b-5. The company may have provided information that was either false or misleading regarding its business practices, especially related to the drug vyfinit.

It is possible for shareholders to take up the lead plaintiff position in the case, but they will need to file all necessary paperwork with the court within 60 days of June 24, 2014. This is not a mandatory position, and shareholders have the ability to remain absent members of the class and still collect in the event of a payout. Those who want to be lead plaintiff will need to acquire counsel.

For any individuals who purchased stock during the class period, it is an option to discuss how rights and interests may be affected by the lawsuit with the firm. The best person to speak with is Darnell Donahue, and he can be reached by email or telephone. There is also a shareholder information form available on the office’s website.

Second lawsuit filed
Another law firm noted that it filed a class action lawsuit in the same court against Endocyte for many of the previously mentioned reasons.

Glancy Binkow and Goldberg, LLP, explained that the litigation was filed due to the company’s announcement that vyfinit was not effective in treating ovarian cancer, which caused Endocyte’s stock to drop significantly.

It is also an option for shareholders to discuss matters related to the lawsuit with this firm. The best people to contact are Lesley Portnoy and Gregory Linkh, and they can be reached by mail, telephone or email. Any stockholders who send an email need to list their telephone number, mailing address and the number of Endocyte shares that they acquired during the class period. The law firm’s website also outlines further details on the case.

For more information on this case or other class action litigations, please contact Kevin Doyle, Senior Vice President, at 203-987-4949 or info@battea.com.