Levi & Korsinsky, LLP announces it has filed a complaint in the USDC for the Middle District of North Carolina on behalf of shareholders of Argos Therapeutics, Inc. (NASDAQ: ARGS) who purchased shares between February 7, 2014 and February 21, 2017.
Argos’ product candidate AGS-003 (rocapuldencel-T) is being evaluated in a pivotal ADAPT Phase 3 clinical trial for the treatment of metastatic renal cell carcinoma (mRCC). The complaint alleges that Argos issued materially false and/or misleading statements, causing the stock to trade at artificially inflated prices; following the release of adverse information, shares of Argos plummeted, damaging investors. In particular, the complaint alleges that Argos issued materially false and/or misleading information regarding the success and potential of its drug candidate AGS-003 (rocapuldencel-T).
On February 22, 2017, despite positive statements made by the Company, Argos then announced that the ADAPT study would be discontinued for futility. Following this news, shares of Argos fell approximately 66% to close at $1.48 per share on February 22, 2017.
If you suffered a loss in Argos you have until May 15, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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