Case Page

 

Case Status:    ONGOING    
On or around 10/19/2017 (Ongoing date of last review)

Filing Date: May 12, 2016

According to the law firm press release, NewLink, a biopharmaceutical company, focuses on discovering, developing, and commercializing immunotherapeutic products to enhance treatment options for patients with cancer. Among the Company’s product candidates is algenpantucel-L, a pancreatic cancer treatment.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s algenpantucel-L treatment was ineffective and potentially harmful to patients; and (ii) as a result of the foregoing, NewLink’s public statements were materially false and misleading at all relevant times.

On May 9, 2016, post-market, NewLink announced that algenpantucel-L did not meet the main goal in the Company’s Phase 3 IMPRESS study. Patients treated with algenpantucel-L lived for a median of 27.3 months in NewLink's Phase 3 trial, compared to median survival of 30.4 months for patients treated with standard therapy, suggesting that patients were actually harmed by NewLink's treatment.

On this news, NewLink's stock price fell $5.05, or 30.61%, to close at $11.45 on May 10, 2016.

On August 16, 2016, the Court appointed Lead Plaintiff and Counsel. Lead Plaintiffs filed an amended complaint on October 31. A corrected version of this complaint was filed on November 10.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: NLNK
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 16-CV-03545
JUDGE: Hon. William H. Pauley, III
DATE FILED: 05/12/2016
CLASS PERIOD START: 09/17/2013
CLASS PERIOD END: 05/09/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bronstein, Gewirtz & Grossman, LLC (New York)
    60 East 42nd Street - Suite 4600, Bronstein, Gewirtz & Grossman, LLC (New York), NY 10165
    212.697.6484 212.697.7296 · info@bgandg.com
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 16-CV-03545
JUDGE: Hon. William H. Pauley, III
DATE FILED: 11/10/2016
CLASS PERIOD START: 09/17/2013
CLASS PERIOD END: 05/09/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kahn Swick & Foti, LLC Former New York)
    500 Fifth Avenue, Ste. 1810, Kahn Swick & Foti, LLC Former New York), NY 10110
    212.696.3730 504.455-1498 ·
No Document Title Filing Date