Glancy Binkow & Goldberg LLP Announces Lead Plaintiff Deadline In The Class
Action Lawsuit Against Affymax, Inc.
LOS ANGELES -- April 6, 2013
Glancy Binkow & Goldberg LLP announces that purchasers of the securities of
Affymax, Inc. (“Affymax” or the “Company”) (NASDAQ:AFFY) between December 8,
2011 and February 22, 2013, inclusive (the “Class Period”), have until April
29, 2013 to file a motion with the Court to be appointed as lead plaintiff.
The shareholder lawsuit was filed in the United States District Court for the
Northern District of California. The Complaint alleges that throughout the
Class Period the Company and certain of its executive officers issued
materially false and misleading statements regarding the Company’s business
and financial prospects.
Affymax is a biopharmaceutical company engaged in the development of drugs in
the United States for the treatment of serious and life-threatening
conditions. On February 23, 2013 Affymax and Japan-based Takeda Pharmaceutical
Company Limited (Takeda) issued a joint announcement of a nationwide voluntary
recall of OMONTYS (peginesatide) Injection. OMONTYS Injection is a treatment
for anemia due to chronic kidney disease in adult patients on dialysis.
Affymax has a strategic alliance agreement with Takeda to develop and
commercialize OMONTYS. According to the Company, the recall is related to “new
postmarketing reports regarding serious hypersensitivity reactions, including
anaphylaxis, which can be life-threatening or fatal.” The Complaint alleges
that defendants failed to disclose that 0.02% of patients who were
administered OMONTYS experienced fatal anaphylaxis reactions. As a result of
this false statement, Affymax stock traded at artificially inflated prices
during the Class Period.
If you purchased Affymax shares during the Class Period, you have until April
29, 2013 to move the Court to serve as lead plaintiff; however, you must meet
certain legal requirements. To be a member of the Class you need not take
action at this time; you may retain counsel of your choice or take no action
and remain an absent Class member. To learn more about this action, or if you
have any questions concerning this Notice or your rights or interests with
respect to these matters, please contact Michael Goldberg, Esquire, of Glancy
Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles,
California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224,
by e-mail to firstname.lastname@example.org, or visit our website at
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CA
(310) 201-9150 or (888) 773-9224
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