Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline in the Class
Action Lawsuit against Affymax, Inc.
LOS ANGELES -- April 23, 2013
The Law Offices of Todd M. Garber 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. The lawsuit was filed 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 above-described Class, you may move the Court no
later than April 29, 2013 to serve as lead plaintiff; however, you must meet
certain legal requirements. To be a member of the Class you need not take any
action at this time. You may retain counsel of your choice or take no action
and remain an absent Class member. If you wish to discuss this action or have
any questions concerning this Notice or your rights or interests with respect
to these matters, please contact Todd M. Garber, Esquire, of the Law Offices
of Todd M. Garber, by telephone at 213-700-7262 or by email to
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California
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