April 23, 2013
/PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of
on behalf of investors who purchased Affymax, Inc. ("Affymax" or the "Company") (NasdaqGS: AFFY) stock between
December 8, 2011
February 22, 2013
(the "Class Period").
For more information, click here:
The complaint alleges that during the Class Period, defendants failed to disclose that 2% of patients administered the drug Omontys experienced hypersensitivity reactions resulting in anaphylaxis, a serious and life-threatening allergic reaction, a third of which needed medical intervention, and that 0.02% of those administered the drug experienced fatal anaphylaxis reactions. As a result, the Complaint alleges that Affymax stock traded at artificially inflated prices during the Class Period.
February 23, 2013
, it was announced that the U.S. Food and Drug Administration ("FDA") was requiring a total recall of the drug due to reports of anaphylaxis. The FDA reported that "serious and fatal" hypersensitivity reactions had been reported in some patients within 30 minutes of receiving their first doses of the drug by intravenous injection. On this news, the price of Affymax stock declined by more than 85%, closing at
per share, down
per share from the prior night's close.
If you suffered a loss in Affymax you have until
April 29, 2013
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
or by telephone at (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in
, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY
10004Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (866) 367-6510
SOURCE Levi & Korsinsky, LLP