Provectus Securities Class Action Lawsuit
A litigation firm recently explained that it filed a securities class action lawsuit against a biopharmaceutical firm due to federal securities law violations.
Robbins, Geller, Rudman and Dowd, LLP, noted that the lawsuit was filed in the U.S. District Court for the Middle District of Tennessee against Provectus Biopharmaceuticals, Inc. This includes shareholders who acquired interests in the company during the class period between Dec. 17, 2013, and May 22, 2014.
The lawsuit alleged that the company’s leaders violated the Securities Exchange Act of 1934, due to statements made that were potentially misleading or false regarding business prospects for its PV-10 drug.
It is an option for shareholders who acquired stock during the class period to apply for the lead plaintiff position in the case. This is not a mandatory position, and there is no guarantee that stockholders will be approved by the court. All of the necessary paperwork needs to be filed within 60 days of the litigation announcement. It is still possible for shareholders to take no action and remain absent class members, which would allow them to collect in the event of a financial return.
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For those who want to learn more about the lead plaintiff position, how the lawsuit will affect their rights and interests as well as any other related issues, it is possible to contact the law office. Darren Robbins is available to be reached by telephone or email. Further information is available on the law firm’s website.
Second lawsuit begins
Another law office recently announced that it filed a class action lawsuit against Provectus Biopharmaceuticals for many of the aforementioned reasons.
Charles Foti, Jr., former Attorney General of Louisiana, and member of Law office Kahn Swick and Foti, LLC, announced that the litigation firm filed the lawsuit for alleged federal securities law violations, mainly due to potential false statements. One of the statements, which had to do with PV-10, included that the drug was a breakthrough treatment in treating cancer, and this was later downplayed by the company. The lead plaintiff deadline in the case is July 28, 2014.
Shareholders who are interested in learning more about the lawsuit and how the process may affect them can speak with the law office. The best people to reach are Lewis Kahn and Melinda Nicholson, and they can be contacted by telephone or email.