NEW YORK, NY / ACCESSWIRE / January 10, 2020 / Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Portola Pharmaceuticals, Inc. ("Portola" or the "Company") (PTLA) from allegations that Portola might have issued misleading information to the investing public.
If you purchased Portola securities, and/or would like to discuss your legal rights and options please visit Portola Shareholder Investigation or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
On January 10, 2020 Portola announced that its preliminary fourth quarter revenue from its drug Andexxa, an antidote for patients treated with anticoagulants, would only be approximately $28 million which was substantially below the $39 million estimate and $41 million consensus. Portola attributed the performance in part to cost-cutting at hospitals noting that "hospital pharmacies curtailed use of Andexxa following drug utilization reviews in an effort to manage pharmacy budgets."
On this news, shares of Portola dropped precipitously during intra-day trading on January 10, 2020.
If you purchased Portola securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/portolapharmaceuticalsinc-ptla-shareholder-class-action-lawsuit-stock-fraud-239/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
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