Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Argos Therapeutics (NASDAQ:ARGS) in connection to alleged violations of securities laws by ARGS and certain of its officers. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Argos Therapeutics. between February 4, 2014 and February 21, 2017.
The class action complaint specifically alleges that during the period in question, ARGS and certain of its officers might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, chiefly: the company’s Arcentis tech platform was unviable; that its ADAPT clinical study had a likelihood of being halted; and that thus the company’s statements to the public were false and misleading and/or had no reasonable foundation during the relevant period. The company announced before market opening on February 22, 2017 that it had filed a Form 8-k with the Securities and Exchange Commission; this filing disclosed that ADAPT’s Independent Monitoring Committee had advised the study’s discontinuance, having concluded that it was unlikely to yield statistically significant results. Following this announcement, shares of ARGS declined 66%, closing at $1.48/share on that date.
According to the company’s website, Argos Therapeutics is a biotechnology company “pioneering the development of individualized immunotherapy, using our combined mRNA and dendritic cell technology to deliver specifically targeted treatments, one patient at a time.” The description continues: “Using material from both disease and blood samples collected from each patient, our Arcelis®-based immunotherapies arm the patient’s dendritic cells to trigger a targeted patient-specific immune response… With its Arcelis® technology platform, cellular manufacturing expertise, a pipeline of products under development and collaborations with some of the world’s leading experts in immunotherapy, Argos is well positioned to be a leader in immuno-oncology and successfully deliver safe and effective, precision immunotherapies.”
A class action lawsuit has already been filed in connection with Argos Therapeutics. If you wish to serve as lead plaintiff in the ARGS lawsuit, you must move the Court no later than May 15, 2017. If you wish to join the litigation, please contract Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.