Navigation Links
Attention Vical Incorporated Investors: Vical Misled Investors According to a Newly Filed Class Action
Date:11/14/2013

SAN DIEGO, Nov. 14, 2013 /PRNewswire/ -- Shareholder rights law firm Robbins Arroyo LLP announces that an investor of Vical Incorporated (NASDAQ: VICL) has filed a federal securities fraud class action complaint in the U.S. District Court for the Southern District of California.  The complaint alleges that the company and certain of its officers violated the Securities and Exchange Act of 1934 between February, 8, 2012 and August 12, 2013 (the "Class Period").  Vical engages in the research and development of biopharmaceutical products for the prevention and treatment of serious or life-threatening diseases. Vical's lead drug candidate, Allovectin, is a Phase 3 clinical trial product to treat metastatic melanoma.

(Logo: http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)

Vical Accused of Misleading Investors Regarding Its Ability to Obtain FDA Approval for Allovectin

Shares of Vical fell $2.05, or 57%, to close at $1.53 on August 12, 2013, after the company announced that the top-line results from the company's Phase 3 trial of Allovectin failed to demonstrate a significant improvement over chemotherapy.

According to the complaint, the company made false and misleading statements and/or failed to disclose material adverse facts about the company's business prospects and financial condition. Specifically, the complaint alleges that, throughout the Class Period, Vical misled investors about the efficacy of Allovectin and the likelihood of its success in the Phase 3 trial.  Further, the complaint alleges that the company deliberately delayed the announcement of the results of the Allovectin trial to avoid revealing the truth to the market.

Vical Shareholders Are Encouraged to Contact Shareholder Rights Law Firm Robbins Arroyo

If you invested in Vical and would like to discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the information form on the firm's shareholder rights blog: http://www.robbinsarroyo.com/shareholders-rights-blog/vical-incorporated/

Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law.  The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. 

Attorney Advertising. Past results do not guarantee a similar outcome.  

Contact:
Darnell R. Donahue
Robbins Arroyo LLP
DDonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com


'/>"/>
SOURCE Robbins Arroyo LLP
Copyright©2012 PR Newswire.
All rights reserved

Related biology news :

1. Snap to attention: Polymers that react and move to light
2. Patient in vegetative state not just aware, but paying attention
3. Children with diplegic and hemiplegic cerebral palsy: Who can be paid more attention by rehabilitation physicians?
4. Strax Rejuvenation Releases a New Radio Ad that is Getting a Lot of Attention from Listeners
5. Researchers uncover cellular mechanisms for attention in the brain
6. Choline intake improves memory and attention-holding capacity
7. Science academies issue G-Science statements to call world leaders attention to global challenges
8. Pay attention: How we focus and concentrate
9. Hogging the spotlight: South Farms pig gets international attention
10. Top 10 new species list draws attention to diverse biosphere
11. Groundbreaking discovery of the cellular origin of cervical cancer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/13/2016)... 13, 2016  IMPOWER physicians supporting Medicaid patients in ... new clinical standard in telehealth thanks to a new ... higi platform, IMPOWER patients can routinely track key health ... mass index, and, when they opt in, share them ... to a local retail location at no cost. By ...
(Date:3/29/2016)... 29, 2016 LegacyXChange, Inc. (OTC: ... and SelectaDNA/CSI Protect are pleased to announce our successful ... a variety of writing instruments, ensuring athletes signatures against ... collectibles from athletes on LegacyXChange will be assured of ... DNA. Bill Bollander , CEO states, ...
(Date:3/22/2016)... and SANDY, Utah , ... which operates the highest sample volume laboratory in ... Genomics and UNIConnect, leaders in clinical sequencing informatics and ... launch of a project to establish the informatics infrastructure ... NSO has been contracted by the Ontario ...
Breaking Biology News(10 mins):
(Date:6/27/2016)... PHILADELPHIA , June 27, 2016  Liquid ... today announced the funding of a Sponsored Research ... study circulating tumor cells (CTCs) from cancer patients.  ... changes in CTC levels correlate with clinical outcomes ... therapies. These data will then be employed to ...
(Date:6/24/2016)... 24, 2016 Epic Sciences unveiled a ... susceptible to PARP inhibitors by targeting homologous recombination ... The new test has already been incorporated into ... cancer types. Over 230 clinical trials ... pathways, including PARP, ATM, ATR, DNA-PK and WEE-1. ...
(Date:6/23/2016)... (PRWEB) , ... June 23, 2016 , ... ... the release of its second eBook, “Clinical Trials Patient Recruitment and Retention Tips.” ... and retention in this eBook by providing practical tips, tools, and strategies for ...
(Date:6/23/2016)... 23, 2016 /PRNewswire/ - FACIT has announced the ... biotechnology company, Propellon Therapeutics Inc. ("Propellon" or ... of a portfolio of first-in-class WDR5 inhibitors for ... as WDR5 represent an exciting class of therapies, ... medicine for cancer patients. Substantial advances have been ...
Breaking Biology Technology: