BALA CYNWYD, PA / ACCESSWIRE / March 24, 2017 / The law Office of Brodsky & Smith, LLC announces an investigation of the Board of Directors of Clovis Oncology, Inc. ("Clovis" or the "Company") (NASDAQ:CLVS - News) for potential violations of federal securities laws and breaches of the Clovis Board's fiduciary duties.
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The investigation concerns a securities class action lawsuit commenced in the United States District Court for the District of Colorado. The complaint alleges that the Defendants made false and misleading statements, including (1) failing to disclose that its New Drug Application ("NDA") submitted to the FDA for its lung cancer treatment, rociletnib, contained immature data sets (2) Clovis' Breakthrough Therapy designation submission contained immature data sets based primarily on unconfirmed responses; (3) Clovis presented interim data publicly on unconfirmed responses; (4) as the efficacy data matured, the number of patents with unconfirmed response who converted to confirmed response was lower than expected; and (5) Clovis's NDA was likely to be delayed and/or rejected by the FDA. As a result, on November 16, 2015, shares of Clovis stock fell over 69%.
If you own shares of Clovis common stock, and wish to discuss the investigation, or if you have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, by visiting http://www.brodskysmith.com/cases/clovis-oncology-inc-nasdaq-clvs/, or calling toll free 877-LEGAL-90.
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SOURCE: Brodsky & Smith, LLC