Case Page

 

Case Status:    ONGOING    
On or around 06/29/2017 (Ongoing date of last review)

Filing Date: November 09, 2016

According to the law firm press release, the complaint alleges that, throughout the Class Period, ProNAi made materially false and misleading statements about the potential and efficacy of its drug product candidate PNT2258 in the company’s public filings, which caused ProNAi’s stock price to be artificially inflated throughout the Class Period, thus harming investors.

On June 6, 2016, ProNAi revealed that the Phase 2 clinical trials of PNT2258 failed to produce sufficient efficacy results to justify continued clinical development of the drug and, thus, ProNAi was suspending clinical development of PNT2258. Following this news, shares of ProNAi fell more than 67 percent.

On February 1, 2017, the Court appointed Lead Plaintiffs and Counsel. Lead Plaintiff filed an amended complaint on March 17, 2017.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: Canada

SECURITIES INFORMATION:

Ticker Symbol: DNAI
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-08703
JUDGE: Hon. Paul A. Engelmayer
DATE FILED: 11/09/2016
CLASS PERIOD START: 07/15/2015
CLASS PERIOD END: 06/06/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky (Stamford)
    733 Summer Street, Suite 304, Levi & Korsinsky (Stamford), CT 06901
    203-992-4523 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 16-CV-08703
JUDGE: Hon. Paul A. Engelmayer
DATE FILED: 03/17/2017
CLASS PERIOD START: 07/15/2015
CLASS PERIOD END: 06/06/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky (Stamford)
    733 Summer Street, Suite 304, Levi & Korsinsky (Stamford), CT 06901
    203-992-4523 ·
No Document Title Filing Date