|[February 25, 2013]
Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Affymax, Inc.
SAN DIEGO --(Business Wire)--
Shareholder rights law firm Johnson & Weaver, LLP has commenced an
investigation into whether Affymax, Inc. (Nasdaq: AFFY) violated state
or federal laws when communicating serious side effects and the
subsequent voluntary recall of its anemia drug, Omontys, in February
According to Johnson & Weaver, LLP, shares of Affymax declined more than
85% in early trading on Monday, February 25, 2013, after the weekend
announcement that its Omontys anemia drug was being voluntarily
recalled. The recall was initiated because of serious side effects
suffered by a small number of patients, including several deaths and
hospitalizations, after taking Omontys. The F.D.A. announced on Sunday
that it had received reports of 19 cases of anaphylaxis (a severe
allergic reaction) and 3 patient deaths. Other patients required prompt
medcal attention or hospitalization.
Johnson & Weaver's investigation is ongoing and addresses the timeline
of reporting issues, specifically whether institutions were notified
ahead of the general public. Jim Baker, Lead Analyst for Johnson &
Weaver, stated that, "It is quite suspicious that institutions and
company insiders were selling Affymax stock aggressively before the
voluntary recall was announced." Baker continued, "It is possible that
institutional investors who were selling stock over the last several
months were made aware of Omontys' problems before the general public."
If you have information that could assist in this investigation or if
you are an Affymax shareholder and are interested in learning more about
the investigation or your legal rights and remedies, please contact Jim
Baker (firstname.lastname@example.org) or
Frank Johnson (email@example.com)
by email or by phone at 619-230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholders' rights
law firm. The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
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