SHAREHOLDER ALERT: Levi & Korsinsky Notifies Investors With Losses on Their
Investment in Affymax, Inc. of Class Action Lawsuit and the Deadline of April
29, 2013 to Seek a Lead Plaintiff Position -- AFFY
NEW YORK, Feb. 28, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a
class action lawsuit has been commenced in the United States District Court
for the Northern District of California on behalf of investors who purchased
Affymax, Inc. ("Affymax" or the "Company") (Nasdaq:AFFY) stock between
December 8, 2011 and February 22, 2013 (the "Class Period").
For more information, click here: http://zlk.9nl.com/affymax-affy/.
The complaint alleges that during the Class Period, defendants failed to
disclose that 2% of patients administered the drug Omontys experienced
hypersensitivity reactions resulting in anaphylaxis, a serious and
life-threatening allergic reaction, a third of which needed medical
intervention, and that 0.02% of those administered the drug experienced fatal
anaphylaxis reactions. As a result, the Complaint alleges that Affymax stock
traded at artificially inflated prices during the Class Period.
On February 23, 2013, it was announced that the U.S. Food and Drug
Administration ("FDA") was requiring a total recall of the drug due to reports
of anaphylaxis. The FDA reported that "serious and fatal" hypersensitivity
reactions had been reported in some patients within 30 minutes of receiving
their first doses of the drug by intravenous injection. On this news, the
price of Affymax stock declined by more than 85%, closing at $2.42 per share,
down $14.10 per share from the prior night's close.
If you suffered a loss in Affymax you have until April 29, 2013 to request
that the Court appoint you as lead plaintiff.Your ability to share in any
recovery doesn't require that you serve as a lead plaintiff. To obtain
additional information, contact Joseph E. Levi, Esq. either via email at
email@example.com or by telephone at (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and
Washington D.C. The firm has extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. Attorney advertising. Prior
results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
Press spacebar to pause and continue. Press esc to stop.