NEW ORLEANS, Oct. 17, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 9, 2014 to file lead plaintiff applications in a securities class action lawsuit against Arrowhead Research Corp. ("Arrowhead" or the "Company") (Nasdaq:ARWR) if they purchased the Company's securities between August 12, 2014 and October 8, 2014, inclusive (the "Class Period"). This action is pending in the United States District Court for the Central District of California.
What You May Do
If you purchased shares of Arrowhead during the Class Period, or during the Company's February 24, 2014 offering, 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, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 9, 2014.
About the Lawsuit
Arrowhead and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
According to the complaint, Arrowhead materially misstated clinical trial information from its experimental hepatitis B therapy ARC-520 by falsely suggesting that the Company's therapy was more effective than it actually was. On October 8, 2014, Arrowhead released disappointing data from its experimental hepatitis B therapy ARC-520. On the same day, an article published on TheStreet.com reported that Arrowhead CEO Chris Anzalone and his team knew for months that ARC-520 dosed at 1 mg/kg and 2 mg/kg yielded 0.2-log and 0.3-log reductions in hepatitis B viral load. Yet, Arrowhead executives led investors to believe that ARC-520 was more potent and achieved viral load reductions in the range of 0.7-log or higher. On this news, shares of Arrowhead fell $5.48 per share, or over 43%, to close at $7.03 per share.
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.