The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of XBiotech, Inc. (NASDAQ: XBIT) who purchased shares between April 15, 2015 and April 20, 2017. The action, which was filed in the United States District Court for the Western District of Texas, alleges that the Company violated federal securities laws.
The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) the results of the Company’s European Phase III trial for the treatment of colorectal cancer with Xilonix were inconclusive; (2) the Company misrepresented the endpoint used in the European Study; (3) the Company’s claim of a 76% increase in improvement was misleading and represented a relative improvement rate; (4) ultimately, the Companies’ studies would not support the approval of the application with the EMA; and (5) as a result of the foregoing, Defendants’ statements about its business and operations were materially false and misleading at all relevant times.
Shareholders have until December 26, 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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