Home / Business / Seattle Genetics, Inc. (NASDAQ:SGEN) Shareholder News: Investigation over possible Violations of Securities Laws

Seattle Genetics, Inc. (NASDAQ:SGEN) Shareholder News: Investigation over possible Violations of Securities Laws

An investigation for investors in NASDAQ:SGEN shares was announced over potential securities laws violations by Seattle Genetics and certain of its directors and officers.

Investors who purchased shares of Seattle Genetics, Inc. (NASDAQ:SGEN), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Seattle Genetics, Inc. (NASDAQ:SGEN) concerning whether a series of statements by Seattle Genetics, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Seattle Genetics, Inc. reported that its annual Total Revenue rose from $286.76 million in 2014 to $336.80 million in 2015 and that its Net Loss increased from $76.14 million in 2014 to $120.49 million in 2015. Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) grew from $28.64 per share in February 2016 to as high as $71.85 per share in November 2016.

On December 27, 2016, Seattle Genetics, Inc. (NASDAQ:SGEN) announced that it has received notice from the U.S. Food and Drug Administration (“FDA“) that a clinical hold or partial clinical hold has been placed on several early stage trials of vadastuximab talirine (SGN-CD33A) in acute myeloid leukemia (AML). Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) declined on December 27, 2016 to as low as $51.63 per share.

On January 6, 2016, NASDAQ:SGEN shares closed at $57.55 per share.

Those who purchased NASDAQ:SGEN shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com