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Faruqi & Faruqi, LLP is Investigating Peregrine Pharmaceuticals Inc. on Behalf of its Shareholders - PPHM

Faruqi & Faruqi, LLP is Investigating Peregrine Pharmaceuticals Inc. on Behalf
                          of its Shareholders - PPHM

PR Newswire

NEW YORK, April 9, 2013

NEW YORK, April 9, 2013 /PRNewswire/ --Faruqi & Faruqi, LLP, a national law
firm concentrating on investor rights, consumer rights and the enforcement of
federal antitrust laws, is investigating potential wrongdoing at Peregrine
Inc. ("Peregrine" or the "Company") (NASDAQ: PPHM). The investigation focuses
on whether certain executive officers and directors of Peregrine breached
their fiduciary duties by failing to disclose that:(1) there were major
discrepancies between various patient sample test results and patient
treatment code assignments; (2) the clinical data from the Company's
randomized, double-blind placebo-controlled Phase II trial of bavituximab in
second-line non-small cell lung cancer was misleading; and (3) as a result of
the foregoing, the Company's positive statements about Peregrine's business,
operations, and prospects, including those statements relating to the clinical
data from the Company's randomized, double-blind placebo-controlled Phase II
trial of bavituximab in second-line non-small cell lung cancer lacked
sufficient support.

(Logo: http://photos.prnewswire.com/prnh/20120119/MM38856LOGO)

On September 24, 2012 Peregrine disclosed that during the course of preparing
for an end-of-phase II meeting with regulatory authorities and following
recent data announcements from its randomized, double-blind placebo-controlled
Phase II trial of bavituximab in second-line non-small cell lung cancer, the
Company discovered major conflicts between patient sample test results and
patient treatment code assignments. Moreover, Peregrine informed investors
that they should no longer depend on clinical data that the Company had
previously reported from its Phase II bavituximab trial in patients with
second-line non-small cell lung cancer. Shareholders interested in seeking to
recover damages on behalf of Peregrine and to implement corporate governance
measures designed to prevent future misconduct should contact the firm.

Request more information now by clicking here: www.faruqilaw.com/Peregrine.

Faruqi & Faruqi, LLP is a national law firm which represents investors and
individuals in class action and derivative litigation. The firm is focused on
providing exemplary legal services in the areas of securities, shareholder,
antitrust and consumer litigation, through all phases of litigation. The firm
has an experienced trial team which has achieved significant victories on
behalf of the firm's clients.

If you hold PPHM shares and you would like to discuss your legal rights, visit
www.faruqilaw.com/Peregrine. You can also contact us by calling Michael J.
Hynes free at 877-247-4292 or at 215-277-5770 or by sending an e-mail to
mhynes@faruqilaw.com.

Contact:

Faruqi & Faruqi, LLP
Michael J. Hynes, Esq.
101 Greenwood Avenue Suite 600
Jenkintown, PA 19046
Telephone: (877) 247-4292 or (215) 277-5770
E-mail: mhynes@faruqilaw.com

(NASDAQ: PPHM)

Attorney Advertising. (C) 2013 Faruqi & Faruqi, LLP. The law firm responsible
for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior
results do not guarantee or predict a similar outcome with respect to any
future matter. We welcome the opportunity to discuss your particular case.
All communications will be treated in a confidential manner.

SOURCE Faruqi & Faruqi, LLP

Website: www.faruqilaw.com
 
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