Energy News / Shareholders Foundation, Inc.

Deadline Upcoming in $142 Million Settlement in the Clovis Oncology Inc (NASDAQ:CLVS) Investor Lawsuit

Via: ReleaseWire

Updated 11:30 AM CST, Mon, December 04,2017

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Clovis Oncology Inc (NASDAQ:CLVS) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on December 11, 2017 and NASDAQ:CLVS investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 12/04/2017 -- The Shareholders Foundation announces that a deadline is coming up on December 11, 2017 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Clovis Oncology Inc (NASDAQ:CLVS) between May 31, 2014 and April 7, 2016.

Investors who purchased a significant amount of shares of Clovis Oncology Inc (NASDAQ:CLVS) between May 31, 2014 and April 7, 2016, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the Clovis Oncology Inc (NASDAQ:CLVS) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/clovis-oncology-inc-nasdaq-clvs-investor-securities-class-action-lawsuit-11192015

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is December 11, 2017. The class action administrator for this case is Epiq Systems.

The lawsuit was originally filed in the U.S. District Court for the District of Colorado over alleged violations of Federal Securities Laws by Clovis Oncology Inc in connection with certain allegedly false and misleading statements made between October 31, 2013 and November 15, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of Clovis Oncology Inc (NASDAQ:CLVS) common shares between October 31, 2013 and November 15, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 31, 2013 and November 15, 2015 Defendants made false and/or misleading statements and/or failed to disclose: (1) that the New Drug Application ("NDA") that Clovis submitted to the FDA for rociletinib contained immature data sets based on both unconfirmed response rates and confirmed response rates; (2) that Clovis Oncology Inc's Breakthrough Therapy designation submission contained immature data set based primarily on unconfirmed responses; (3) that Clovis Oncology Inc's presented interim data publicly and at medical meetings that included a data set based primarily on unconfirmed responses; (4) that as the efficacy data matured, the number of patients with an unconfirmed response who converted to a confirmed response was lower than expected; (5) that, as a result of the foregoing, Clovis Oncology Inc's NDA was likely to be delayed and/or rejected by the FDA; and (6) that, as a result of the foregoing, the Defendants' statements about Clovis Oncology Inc's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

Those who purchased shares of Clovis Oncology Inc (NASDAQ: CLVS) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/deadline-upcoming-in-142-million-settlement-in-the-clovis-oncology-inc-nasdaqclvs-investor-lawsuit-899847.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com