Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of
SAN DIEGO -- February 25, 2013
Shareholder rights law firm Johnson & Weaver, LLP has commenced an
investigation into whether Affymax, Inc. (Nasdaq: AFFY) violated state or
federal laws when communicating serious side effects and the subsequent
voluntary recall of its anemia drug, Omontys, in February 2013.
According to Johnson & Weaver, LLP, shares of Affymax declined more than 85%
in early trading on Monday, February 25, 2013, after the weekend announcement
that its Omontys anemia drug was being voluntarily recalled. The recall was
initiated because of serious side effects suffered by a small number of
patients, including several deaths and hospitalizations, after taking Omontys.
The F.D.A. announced on Sunday that it had received reports of 19 cases of
anaphylaxis (a severe allergic reaction) and 3 patient deaths. Other patients
required prompt medical attention or hospitalization.
Johnson & Weaver’s investigation is ongoing and addresses the timeline of
reporting issues, specifically whether institutions were notified ahead of the
general public. Jim Baker, Lead Analyst for Johnson & Weaver, stated that, "It
is quite suspicious that institutions and company insiders were selling
Affymax stock aggressively before the voluntary recall was announced.” Baker
continued, “It is possible that institutional investors who were selling stock
over the last several months were made aware of Omontys’ problems before the
If you have information that could assist in this investigation or if you are
an Affymax shareholder and are interested in learning more about the
investigation or your legal rights and remedies, please contact Jim Baker
(firstname.lastname@example.org)or Frank Johnson (email@example.com) by
email or by phone at 619-230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholders’ rights law
firm. The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
Johnson & Weaver, LLP
Ext. 106 Frank Johnson firstname.lastname@example.org
Ext. 118 Jim Baker email@example.com
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