Levi & Korsinsky Announces Portola Pharmaceuticals Class Action Investigation; PTLA Lawsuit

Class Action Reports

Levi & Korsinsky Announces Portola Pharmaceuticals Class Action Investigation; PTLA Lawsuit

Levi & Korsinsky, LLP

February 10, 2020

Levi & Korsinsky, LLP announces that a PTLA class action lawsuit has been commenced on behalf of investors who purchased Portola Pharmaceuticals, Inc. (PTLA) securities between November 5, 2019 and January 9, 2020. For more on the Portola Pharmaceuticals Class Action please contact us today.

According to the Portola Pharmaceuticals lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Portola’s internal control over financial reporting regarding reserve for product returns was not effective; (2) Portola was shipping longer-dated product with 36-month shelf life; (3) Portola had not established adequate reserve for returns of prior shipments of short-dated product; (4) as a result, Portola was reasonably likely to need to “catch up” on accounting for return reserves; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

TO LEARN MORE ABOUT THE PTLA CLASS ACTION, VISIT: https://www.zlk.com/pslra-1/portola-pharmaceuticals-inc-loss-form?prid=5375&wire=9

If you suffered a loss in Portola Pharmaceuticals you have until March 16, 2020 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.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

jlevi@levikorsinsky.com

Tel: (212) 363-7500

Fax: (212) 363-7171

www.zlk.com