Case Page

 

Case Status:    ONGOING    
On or around 03/16/2017 (Ongoing date of last review)

Filing Date: March 14, 2017

According to the law firm press release, Argos’ product candidate AGS-003 (rocapuldencel-T) is being evaluated in a pivotal ADAPT Phase 3 clinical trial for the treatment of metastatic renal cell carcinoma (mRCC). The complaint alleges that Argos issued materially false and/or misleading statements, causing the stock to trade at artificially inflated prices; following the release of adverse information, shares of Argos plummeted, damaging investors. In particular, the complaint alleges that Argos issued materially false and/or misleading information regarding the success and potential of its drug candidate AGS-003 (rocapuldencel-T).

On February 22, 2017, despite positive statements made by the Company, Argos then announced that the ADAPT study would be discontinued for futility. Following this news, shares of Argos fell approximately 66% to close at $1.48 per share on February 22, 2017.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: ARGS
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: M.D. North Carolina
DOCKET #: 17-CV-00216
JUDGE: Hon. THOMAS D. SCHROEDER
DATE FILED: 03/14/2017
CLASS PERIOD START: 02/07/2014
CLASS PERIOD END: 02/21/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky (Stamford)
    733 Summer Street, Suite 304, Levi & Korsinsky (Stamford), CT 06901
    203-992-4523 ·
  2. Ward Black Law
    208 W. Wendover Avenue, Ward Black Law, NC 27401
    336.333.2244 336.379.9415 ·
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