Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses in Excess of
$100,000 Investing in Delcath Systems, Inc. to Contact the Firm
NEW YORK, July 3, 2013 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading
national securities law firm, reminds investors of Delcath Systems, Inc.
("Delcath" or the "Company") (Nasdaq:DCTH) of the Monday, July 8, 2013
deadline to seek the role of lead plaintiff in a federal securities class
action lawsuit filed against the Company and certain executives.
A complaint has been filed on behalf of all persons who purchased or otherwise
acquired Delcath securities between April 21, 2010 and May 2, 2013 (the "Class
The action alleges that the Company and its executives violated federal
securities laws by failing to disclose that: (1) the Company's New Drug
Application ("NDA") for Melblez Kit for the treatment of patients with
unresectable ocular melanoma metastatic to the liver contained risks including
fatal levels of toxicity associated with the drug's adverse reactions; and (2)
the Company's manufacturing facilities were in violation of the United States'
Current Good Manufacturing Practices ("cGMP").
On February 22, 2011, Delcath disclosed that it had received a "refusal to
file" letter from the U.S. Food & Drug Administration ("FDA") requesting
"information involving manufacturing plant inspection timing, product and
sterilization validations and additional safety information [...] as well as
additional statistical analysis clarification." On this news, Delcath shares
plummeted $4.29 or 38%, to close at $7.01 per share.
On April 30, 2013, the FDA published briefing documents ahead of a May 2, 2013
meeting by the Oncologic Drugs Advisory Committee ("ODAC") to review Delcath's
Melblez Kit.The briefing documents revealed that a staggering 7% of the 122
patients treated with the Melbaz kit died as a result of the treatment.On
this news, Delcath shares declined $0.558 per share or over 40%, to close at
$0.832 per share on April 30, 2013.
On May 2, 2013, the Company announced that the ODAC voted 16 to 0 to not
recommend approval of Delcath's Melblez Kit, noting that the benefits of
treatment did not outweigh the risks.On this news, Delcath shares declined
$0.3326 per share or nearly 42%, to close at $0.46 per share on May 3, 2013.
Request more information now by clicking here:www.faruqilaw.com/DCTH. There
is no cost or obligation to you.
If you invested in Delcath stock or options between April 21, 2010 and May 2,
2013 and would like to discuss your legal rights, visit
www.faruqilaw.com/DCTH. You can also contact us by calling Richard Gonnello or
Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending
an e-mail to email@example.com or firstname.lastname@example.org. Faruqi &
Faruqi, LLP also encourages anyone with information regarding Delcath's
conduct to contact the firm, including whistleblowers, former employees,
shareholders and others.
Attorney Advertising.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.
CONTACT: FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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