| Company: | Northwest Biotherapeutics, Inc. |
| Ticker Symbol: | OTCBB: NWBO |
| Class Period:: | July 9, 2007 to July 16, 2007 |
| Date Filed: | Aug-14-07 |
| Lead Plaintiff Deadline: | Oct-12-07 |
| Court: | Western District, WA |
| Allegations: |
A class action has been commenced in the United States District Court for the Western District of Washington on behalf of purchasers of Northwest Biotherapeutics, Inc. ("Northwest") (OTCBB:NWBO) common stock during the period from July 9, 2007 through July 16, 2007 (the "Class Period").
The complaint charges Northwest Biotherapeutics and certain of its officers and directors with violations of the Securities Exchange Act for allegedly issuing false and misleading statements about its lead drug candidate DCVax-Brain.
On July 9, 2007 the Company issued a press release entitled "World's First Therapeutic Vaccine for Brain Cancer Commercially Available to Patients in Switzerland." The release stated that Northwest Biotherapeutics received an "authorization for use" from the Swiss authorities and that "DCVax-Brain is the first commercially available therapeutic vaccine for such cancers. The Company intends to begin making the product available to patients in Q3 2007." A week later, on July 16, 2007, Northwest Biotherapeutics issued another press release explaining that the authorization it received was really just for import/export purposes, and was conditional even for those limited purposes. Northwest Biotherapeutics stated that the Swiss government has not yet reviewed DCVax for neither safety nor efficacy. Northwest Biotherapeutics' stock which traded up from $2.30 per share to as high as over $7 per share during the Class Period has since dropped to below $3 per share.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
The complaint charges Northwest Biotherapeutics and certain of its officers and directors with violations of the Securities Exchange Act for allegedly issuing false and misleading statements about its lead drug candidate DCVax-Brain.
On July 9, 2007 the Company issued a press release entitled "World's First Therapeutic Vaccine for Brain Cancer Commercially Available to Patients in Switzerland." The release stated that Northwest Biotherapeutics received an "authorization for use" from the Swiss authorities and that "DCVax-Brain is the first commercially available therapeutic vaccine for such cancers. The Company intends to begin making the product available to patients in Q3 2007." A week later, on July 16, 2007, Northwest Biotherapeutics issued another press release explaining that the authorization it received was really just for import/export purposes, and was conditional even for those limited purposes. Northwest Biotherapeutics stated that the Swiss government has not yet reviewed DCVax for neither safety nor efficacy. Northwest Biotherapeutics' stock which traded up from $2.30 per share to as high as over $7 per share during the Class Period has since dropped to below $3 per share.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
