From the Wires
Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess of $100,000 Investing In Keryx Biopharmaceuticals, Inc. To Contact the Firm
By: PR Newswire
Nov. 2, 2012 09:30 PM
NEW YORK, Nov. 2, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Keryx Biopharmaceuticals, Inc. ("Keryx" or the "Company") (NasdaqCM: KERX).
The investigation focuses on whether the Company and its executives violated federal securities laws with respect to its disclosures concerning perifosine, an experimental drug that Keryx had been co-developing to treat those suffering from colorectal cancer.
On April 2, 2012, Keryx announced the top-line data from the Perifosine X-PECT Phase 3 Clinical Trial. The Company revealed that the trial for refractory advanced colorectal cancer did not meet the primary endpoint of improving overall patient survival versus capecitabine and a placebo. On this disappointing news, Keryx share price plummeted from $4.98 on March 30, 2012 to $1.74 on April 2, 2012 – a decline of roughly 65 percent.
Request more information now by clicking here: www.faruqilaw.com/KERX. There is no cost or obligation to you.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
SOURCE Faruqi & Faruqi, LLP
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