Navigation Links
Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Affymax, Inc.
Date:3/1/2013

WAYNE, Pa., March 1, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/affy) announces that a class action lawsuit has been filed in the United States District Court for the United States District Court for the Northern District of California on behalf of purchasers of Affymax, Inc. ("Affymax") (NASDAQ: AFFY) common stock during the period between December 8, 2011 and February 22, 2013 (the "Class Period").

(Logo: http://photos.prnewswire.com/prnh/20121112/MM11729LOGO )

For more information regarding this class action suit, please contact Ryan & Maniskas, LLP ( Richard A. Maniskas, Esquire ) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/affy.The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business practices and financial results. Specifically, the complaint alleges that defendants failed to disclose that 2% of patients who were administered Omontys experienced hypersensitivity reactions resulting in anaphylaxis, a serious and life-threatening allergic reaction, a third of which needed medical intervention – and that 0.02% of those administered the drug experienced fatal anaphylaxis reactions. As a result of these false statements, the Complaint alleges that Affymax stock traded at artificially inflated prices during the Class Period, reaching a high of $27.74 per share in intraday trading on October 17, 2012.

Then, on February 23, 2013, Affymax and Takeda announced that the FDA was requiring a total recall of the drug due to reports of anaphylaxis, with the FDA calling it a "serious and life-threatening" allergic reaction in the agency's statement. "Serious and fatal" hypersensitivity reactions had been reported in some patients within 30 minutes of receiving their first doses of the drug by intravenous injection, the FDA said in its statement. On this news, the price of Affymax stock declined by more than 85%, closing at $2.42 per share, down $14.10 per share from the prior night's close, on unusually high trading volume.

If you are a member of the class, you may, no later than April 29, 2013, request that the Court appoint you as lead plaintiff of the class.  A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Under certain circumstances, one or more class members may together serve as "lead plaintiff."  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.

For more information about the case or to participate online, please visit: www.rmclasslaw.com/cases/affy or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at rmaniskas@rmclasslaw.com.  For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.

Ryan & Maniskas, LLP is a national shareholder litigation firm.  Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.CONTACT:Ryan & Maniskas, LLPRichard A. Maniskas, Esquire995 Old Eagle School Rd., Suite 311Wayne, PA 19087484-588-5516877-316-3218www.rmclasslaw.com/cases/affy  rmaniskas@rmclasslaw.com


'/>"/>
SOURCE Ryan & Maniskas, LLP
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. On-Demand Reports on Partnering Terms in Healthcare & Pharma Sectors: New Market Research at ReportsnReports.com
2. Aethlon Medical (AEMD) Note: Multiple Shots on Goal - A Therapeutic Strategy to Address Infectious Disease & Cancer
3. Animas Development of a First-Generation Closed Loop Insulin Delivery System Progresses With Data Presented at the Advanced Technologies & Treatments for Diabetes (ATTD) Conference
4. Orexigen Therapeutics Announces Webcast of Upcoming Presentation at the Cowen & Co. Annual Health Care Conference
5. Collegium Pharmaceuticals CEO to Present at the Cowen & Company 33rd Annual Health Care Conference in Boston on March 6, 2013
6. BiOptix to highlight new carbonic anhydrase data at IBCs Biopharmaceutical Development & Production Week
7. Cadence Pharmaceuticals CEO Ted Schroeder To Present At The Cowen & Company 33rd Annual Health Care Conference In Boston On March 5, 2013
8. Searcy Denney Scarola Barnhart & Shipley Attorney Appointed to Plaintiffs Steering Committee for Stryker Hip Implant Litigation
9. Frost & Sullivan Recognizes KAERs Game-Changing Innovating Aerosol Drug Delivery Methods for High-Dose Respiratory Disease Therapeutics
10. Gliknik Adds Incyte President & CEO Paul A. Friedman to its Board of Directors
11. Frost & Sullivan Recognizes GenePOCs Growth Backed by Strong Leadership and Technology Excellence
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... bioLytical Laboratories, ein Weltführer bei schnellen Tests für ... Apothekenbundes von Kenia eingeführt. Continue Reading ... ... Test! (PRNewsFoto/bioLytical Laboratories) ... http://photos.prnewswire.com/prnh/20161201/444905 ) bioLytical wurde durch die ...
(Date:12/2/2016)... , December 2, 2016 Orthopedic Implants ... Support) is Expected to Gain a Significant Market Share Owing ... Ailments  ... According to a new ... Medical Implants Sterile Packaging: Clamshell Product Type Segment Projected to ...
(Date:12/2/2016)... December 2, 2016 On Thursday, the ... in red, while the Dow Jones Industrial Average managed to ... of US markets, which prompted Stock-callers this morning to look ... (NASDAQ: NUVA ), Smith & Nephew PLC (NYSE: ... NXTM ), and Cesca Therapeutics Inc. (NASDAQ: KOOL ...
Breaking Medicine Technology:
(Date:12/2/2016)... ... December 02, 2016 , ... ‘Tis the season for giving! Today, 20 creative ... National Family Partnership and the Drug Enforcement Administration as part of the National Red ... 10 winning schools who decorated their campuses with this year’s Red Ribbon Week theme: ...
(Date:11/30/2016)... , ... November 30, 2016 , ... ... they now offer a comprehensive in-house dental plan for all patients. Understanding that ... a plan that gives patients a number of perks, including discounts on many ...
(Date:11/30/2016)... ... November 30, 2016 , ... ... Deloitte Wisconsin 75, an annual ranking and recognition of the largest closely held ... list, having ranked from 2008-2016. In addition, Standard Process was awarded the Talent ...
(Date:11/30/2016)... ... November 30, 2016 , ... Center For ... announced the opening of a new residential mental health treatment program in Chino ... issues such as severe anxiety, depression, bi-polar disorder, and other related issues. , ...
(Date:11/30/2016)... ... November 30, 2016 , ... ... and stylish design wanted by today’s consumers at an affordable price, is now ... says the new watch is “a game changer” when it comes to the ...
Breaking Medicine News(10 mins):