Brower Piven Encourages Investors Who Have Losses in Excess of $250,000 From
Investment in Affymax, Inc. to Inquire About the Lead Plaintiff Position in
Securities Fraud Class Action Lawsuit Before the April 29, 2013 Lead Plaintiff
Deadline -- AFFY
STEVENSON, Md., March 1, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional
Corporation announces that a class action lawsuit has been commenced in the
United States District Court for the Northern District of California on behalf
of purchasers of Affymax, Inc. ("Affymax" or the "Company") (Nasdaq:AFFY)
common stock during the period between December 8, 2011 and February 22, 2013,
inclusive (the "Class Period").
If you have suffered a net loss from investment in Affymax, Inc. common stock
purchased on or after December 8, 2011, and held through February 22, 2013,
you may obtain additional information about this lawsuit and your ability to
become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by
email at firstname.lastname@example.org, by calling 410/415-6616, or at Brower Piven,
A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating securities and
class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will
be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply
to be appointed lead plaintiff no later than April 29, 2013 and be selected by
the Court. The lead plaintiff will direct the litigation and participate in
important decisions including whether to accept a settlement and how much of a
settlement to accept for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from investment in
the Company during the Class Period. You are not required to have sold your
shares to seek damages or to serve as a Lead Plaintiff.
The complaint accuses the defendants of violations of the Securities Exchange
Act of 1934 by virtue of the defendants' failure to disclose during the Class
Period that 2% of patients who were administered Omontys, an anemia drug and
Affymax's primary drug offering, experienced hypersensitivity reactions
resulting in anaphylaxis, a serious and life-threatening reaction, a third of
whom needed medical intervention, and that 0.02% of those administered Omontys
had fatal anaphylaxis reactions, that the Company's financial guidance for
fiscal year 2012 was materially overstated, that reported sales of Omontys
were not sustainable, and that the Company was overstating sales of Omontys
and understating the potential liabilities related to Omontys sales. According
to the Complaint, following the Company's February 13, 2013 disclosure that
Fresenius Medical Care North America was pausing further expansion of the
Omontys pilot that began in late July 2012, and the Company's February 23,
2013 disclosure that the U.S. Food and Drug Administration was requiring a
total recall of Omontys because of the potential for serious and
life-threatening reactions, the value of Affymax shares declined
If you choose to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your choice. You
need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
Press spacebar to pause and continue. Press esc to stop.