Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Maryland on behalf of investors who purchased GenVec, Inc. (“GenVec” or the “Company”) (Nasdaq: GNVC) stock between March 12, 2009 and March 30, 2010 (the “Class Period”).
For more information, click here: http://www.zlk.com/genvec-gnvc.html. There is no cost or obligation to you.
The complaint alleges that throughout the Class Period, the Company continuously publicized the clinical success of TNFerade, and that it was the company's lead product candidate with strategic commercial value, even though the certain officers and directors knew or recklessly disregarded the fact that Phase III clinical trials of TNFerade in patients with pancreatic cancer was a failure. On March 29, 2010 GenVec announced that it was discontinuing its Phase III clinical trial of TNFerade in patients with locally advanced pancreatic cancer. On this news, the Company's stock price declined $20.10 per share -- from $28.10 per share on March 29, 2010 to close at $8.00 per share on March 30, 2010 -- a decline of more than 71.5% on unusually high volume.
If you suffered a loss in GenVec, you have until April 6, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 363-5972, or visit http://www.zlk.com/genvec-gnvc.html.Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. Attorney advertising. Prior results do not guarantee similar outcomes.