Gilman Law LLP, a leading national securities law firm, is now accepting claims for lawsuits on behalf of Dendreon Corporation shareholders. The firm is actively investigating shareholder claims that Dendreon Corporation, a biotechnology company focused on novel cancer therapies, violated federal securities laws by failing to disclose material facts. The firm is currently offering free legal evaluations to all Dendreon Corporation investors nationwide.
For over 30 years, Gilman Law has represented investors in all major aspects of securities fraud litigation, including stock manipulation, securities fraud, and shareholder rights violations. If you purchased or otherwise acquired shares of Dendreon Corporation (NASDAQ: DNDN) during the period between January 7, 2011 and August 3, 2011, and either lost money on the transaction or still hold the shares, you must contact Gilman Law LLP no later than October 3, 2011 in order to exercise your legal rights against Dendreon.
Dendreon Corporation Class Action Lawsuit Allegations
On August 4, 20011, Dendreon shares fell from over $41 per share in the beginning in July 2011 to under $12, after the Company withdrew its sales forecasts for its prostate cancer therapy Provenge. The day prior, Dendreon reported its Second Quarter 2011 Financial Results, disclosing, among other things, that it was “withdrawing its previous guidance of $350-400 million in revenue for 2011 and currently expects modest quarter over quarter revenue growth for the remainder of this year.”
A class action lawsuit was subsequently filed in the United States District Court, Western District of Washington on behalf of Dendreon shareholders alleging that the Company and certain of its officers made a series of materially false and misleading statements related to Dendreon’s business and operations between January 7, 2011 and August 3, 2011. According to the complaint:
Dendreon knew or deliberately disregarded the fact that financial forecasts regarding the immediate adoption of the Company’s cancer drug Provenge were dramatically inflated, particularly in light of the fact that the Company had not provided physicians with financing options;
Dendreon lacked adequate systems of internal operational or financial controls
Dendreon executives repeatedly issued false and misleading statements to the investment community regarding Provenge, leading investors to believe that the medical community would quickly adopt the drug to treat prostate cancer.
Legal Help for Dendreon Corporation Shareholders
Gilman Law has extensive experience representing both individual and institutional investors in securities class action suits, and has recovered over a billion dollars for its clients. We are ready to assist investors who have sustained losses as a result of Dendreon Corporation’s fraudulent practices. For a free evaluation of your case or to obtain additional information, please fill out the form on the left or CALL TOLL FREE (888) 252-0048.
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