Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The
Class Action Lawsuit Against Affymax, Inc.
BENSALEM, Pa. -- April 12, 2013
Law Offices of Howard G. Smith announces that investors of Affymax, Inc.
(“Affymax” or the “Company”) (NASDAQ:AFFY) have until April 29, 2013 to move
the Court to serve as lead plaintiff in the securities fraud class action
lawsuit filed in the United States District Court for the Northern District of
California on behalf of a class (the “Class”) comprising all purchasers of
Affymax securities between December 8, 2011 and February 22, 2013, inclusive
(the “Class Period”).
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 are a member of the Class described above, you have certain rights and
have until April 29, 2013 to move for lead plaintiff status. To be a member of
the class you need not take any action at this time, or may retain counsel of
your choice. If you wish to discuss this action or learn more concerning your
rights or interests with respect to these matters, please contact Howard G.
Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite
112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to firstname.lastname@example.org, or visit our
website at http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
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