The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Puma Biotechnology, Inc. (NASDAQ: PBYI) who purchased shares between February 29, 2016 and May 4, 2017. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that (i) the Company did not anticipate that the U.S. Food and Drug Administration (“FDA”) would ultimately approve PB272 (“neratinib”) for the treatment of breast cancer; (ii) as such, Puma Biotechnology had overstated the drug’s approval prospects and/or commercial viability; and (iii) as a result, Puma Biotechnology’s public statements were materially false and misleading at all relevant times.
Shareholders have until July 7, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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