The Law Offices of Todd M. Garber announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class (the “Class”) comprising all purchasers of the securities of Delcath Systems, Inc. (“Delcath” or the “Company”) (NASDAQ:DCTH) between April 21, 2010 and May 2, 2013, inclusive (the “Class Period”).
Delcath operates as a specialty pharmaceutical and medical device company focusing on the field of oncology, primarily the development of CHEMOSAT/Melblez Kit system, which administers concentrated regional chemotherapy to the liver. The Complaint alleges that defendants misrepresented or failed to disclose material adverse facts about the Company's New Drug Application seeking Food and Drug Administration (FDA) approval for commercial sale of Melblez Kit -- Melblez (melphalan) for Injection for use with the Delcath Hepatic Delivery System -- for the treatment of patients with unresectable ocular melanoma metastatic to the liver, including substantial and severe toxicity, and deaths associated with the drug’s adverse reactions.
On May 2, 2013 the Company disclosed that the FDA’s Oncologic Drugs Advisory Committee voted 16-0, with no abstentions, that Melblez Kit’s treatment benefits do not outweigh the risks associated with the procedure. The next day, as a result of this news, the price of Delcath shares dropped more than 40% on extremely heavy trading volume.
If you are a member of the above-described Class, you may move the Court no later than July 8, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time, or you may retain counsel of your choice. If you have information or would like to learn more about these claims, or if you purchased Delcath stock prior to the Class Period and have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to firstname.lastname@example.org.This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV