The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Western District of Texas on behalf of investors who purchased XBiotech, Inc. (“XBiotech”) (NASDAQ: XBIT) securities between April 15, 2015 and April 20, 2017.
According to the complaint, defendants made false and/or misleading statements and/or failed to disclose that: (1) the results of the Company’s European Phase III trial for the treatment of colorectal cancer with Xilonix were inconclusive; (2) the Company misrepresented the endpoint used in the European Study; (3) the Company’s claim of a 76% increase in improvement was misleading and represented a relative improvement rate; (4) ultimately, the Companies’ studies would not support the approval of the application with the EMA; and (5) as a result of the foregoing, Defendants’ statements about its business and operations were materially false and misleading at all relevant times.
If you suffered a loss in XBiotech you have until December 26, 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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