Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Delcath
LOS ANGELES -- June 17, 2013
The Law Offices of Todd M. Garber announces that a class action lawsuit has
been filed in the United States District Court for the Southern District of
New York on behalf of a class (the “Class”) comprising all purchasers of the
securities of Delcath Systems, Inc. (“Delcath” or the “Company”) (NASDAQ:DCTH)
between April 21, 2010 and May 2, 2013, inclusive (the “Class Period”).
Delcath operates as a specialty pharmaceutical and medical device company
focusing on the field of oncology, primarily the development of
CHEMOSAT/Melblez Kit system, which administers concentrated regional
chemotherapy to the liver. The Complaint alleges that defendants
misrepresented or failed to disclose material adverse facts about the
Company's New Drug Application seeking Food and Drug Administration (FDA)
approval for commercial sale of Melblez Kit -- Melblez (melphalan) for
Injection for use with the Delcath Hepatic Delivery System -- for the
treatment of patients with unresectable ocular melanoma metastatic to the
liver, including substantial and severe toxicity, and deaths associated with
the drug’s adverse reactions.
On May 2, 2013 the Company disclosed that the FDA’s Oncologic Drugs Advisory
Committee voted 16-0, with no abstentions, that Melblez Kit’s treatment
benefits do not outweigh the risks associated with the procedure. The next
day, as a result of this news, the price of Delcath shares dropped more than
40% on extremely heavy trading volume.
If you are a member of the above-described Class, you may move the Court no
later than July 8, 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, or you may retain counsel of your choice. If you have
information or would like to learn more about these claims, or if you
purchased Delcath stock prior to the Class Period and have any questions
concerning this announcement 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 firstname.lastname@example.org.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
The Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
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