Energy News / Shareholders Foundation, Inc.

MannKind Corporation (NASDAQ:MNKD) Shareholder Notice: Lawsuit Against H.C. Wainwright & Co., LLC

Via: ReleaseWire

Updated 11:15 AM CST, Mon, November 27,2017

A lawsuit was filed on behalf of investors in MannKind Corporation (NASDAQ:MNKD) shares over alleged securities laws violations.

San Diego, CA -- (SBWIRE) -- 11/27/2017 -- An investor, who purchased shares of MannKind Corporation (NASDAQ:MNKD), filed a lawsuit against H.C. Wainwright & Co., LLC and financial analyst, Oren Livnat over alleged violations of Federal Securities Laws.

Investors who purchased a significant amount of MannKind Corporation (NASDAQ:MNKD) securities between 4:03 AM Pacific Time on October 10, 2017 (7:03 AM Eastern Time) and 9:02 PM Pacific Time on October 10, 2017 (12:02 AM Eastern Time on October 11, 2017),have certain options and for certain investors are short and strict deadlines running. Deadline: December 29, 2017. NASDAQ:MNKD investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

According to the complaint the plaintiff alleges on behalf of purchasers of MannKind Corporation (NASDAQ:MNKD) securities between 4:03 AM Pacific Time on October 10, 2017 (7:03 AM Eastern Time) and 9:02 PM Pacific Time on October 10, 2017 (12:02 AM Eastern Time on October 11, 2017), that the defendants violated Federal Securities Laws.

Shares of MannKind Corporation (NASDAQ:MNKD) rose from $1.85 per share in late September 2017 to as high as $6.71 per share on October 10, 2017. On October 10, 2017, Wainwright, through an announcement publicized by H.C. Wainwright & Co., LLC analyst, Livnat, initiated coverage of the MannKind Corporation (NASDAQ:MNKD) stock with a "Buy" rating and a $7 per share price target. At the time of H.C. Wainwright & Co., LLC's statements, MannKind Corporation's stock was trading at $5.33 per share. That night, MannKind Corporation announced a registered direct offering at an offering price of $6.00 per share. On this news, MannKind Corporation's stock price fell to a close of $5.47 per share on October 11, 2011. Since then NASDAQ:MNKD shares declined to $3.96 per share on October 19, 2017.

The plaintiff claims that Defendants' statements were materially misleading for failure to disclose that just 15 hours following H.C. Wainwright & Co., LLC's report on MannKind, MannKind would announce a registered direct offering.

Those who purchased shares of MannKind Corporation (NASDAQ:MNKD) 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/mannkind-corporation-nasdaqmnkd-shareholder-notice-lawsuit-against-hc-wainwright-co-llc-897313.htm

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