Cases
Kitov Pharmaceuticals Holdings Ltd. (NASDAQ : KTOV)
Securities Class Action
Overview
Overview
- Date:
- 2/9/2017
- Company Name:
- Kitov Pharmaceuticals Holdings Ltd.
- Stock Symbol:
- KTOV
- Class Period:
- FROM 11/17/2015 TO 2/3/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern District of New York
NEW YORK, February 9, 2017 – Bragar Eagel & Squire, P.C. 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 all persons or entities who acquired Kitov Pharmaceuticals Holdings Ltd. (NASDAQ: KTOV) securities between November 17, 2015 to February 3, 2017 (the “Class Period”).
Kitov is a clinical development stage biopharmaceutical company that develops combination drugs for the simultaneous treatment of pain caused by osteoarthritis and hypertension. The Company’s lead drug candidate is KIT-302, a fixed dosage combination product based on the generic drugs celecoxib and amlodipine besylate, that has completed its Phase III clinical study.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company and its Chief Executive Officer (“CEO”) Isaac Israel published misleading information concerning the conduct of the Company’s clinical trials for its lead drug candidate KIT-302; and (ii) as a result of the foregoing, Kitov’s public statements were materially false and misleading at all relevant times.
On February 6, 2017, the Israeli publication Calcalist reported that Kitov’s CEO Isaac Israel had been detained and questioned by the Israeli Securities Authority (“ISA”) on suspicion of publishing misleading information in connection with a clinical trial of KIT-302. On this news, Kitov’s ADR price fell $0.33, or 11.46%, to close at $2.55 on February 6, 2017.
On February 7, 2017, the NASDAQ halted trading of Kitov’s ADRs. That same day, Kitov issued a news release, formally advising investors of the ISA’s investigation into the Company’s public disclosures regarding KIT-302.
If you purchased or otherwise acquired Kitov securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
Kitov is a clinical development stage biopharmaceutical company that develops combination drugs for the simultaneous treatment of pain caused by osteoarthritis and hypertension. The Company’s lead drug candidate is KIT-302, a fixed dosage combination product based on the generic drugs celecoxib and amlodipine besylate, that has completed its Phase III clinical study.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company and its Chief Executive Officer (“CEO”) Isaac Israel published misleading information concerning the conduct of the Company’s clinical trials for its lead drug candidate KIT-302; and (ii) as a result of the foregoing, Kitov’s public statements were materially false and misleading at all relevant times.
On February 6, 2017, the Israeli publication Calcalist reported that Kitov’s CEO Isaac Israel had been detained and questioned by the Israeli Securities Authority (“ISA”) on suspicion of publishing misleading information in connection with a clinical trial of KIT-302. On this news, Kitov’s ADR price fell $0.33, or 11.46%, to close at $2.55 on February 6, 2017.
On February 7, 2017, the NASDAQ halted trading of Kitov’s ADRs. That same day, Kitov issued a news release, formally advising investors of the ISA’s investigation into the Company’s public disclosures regarding KIT-302.
If you purchased or otherwise acquired Kitov securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.