Today's Date: Add To Favorites
Robbins Umeda LLP Announces Investigation of XenoPort, Inc.
Press Release | 2010/07/29 09:12

Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at XenoPort, Inc. XenoPort is a biopharmaceutical company that focuses on developing internally discovered product candidates that utilize the body's natural nutrient transport mechanisms to enhance the therapeutic benefits of drugs. The Company was founded in 1999 and is based in Santa Clara, California.

Robbins Umeda LLP's investigation concerns whether the Company's directors and officers caused the Company to make materially false and misleading representations regarding XenoPort's Phase 3 clinical program for an extended-release tablet and development stage drug called Horizant, also known as XP13512 ("512"). Specifically, Robbins Umeda LLP is investigating whether the Company's fiduciaries caused XenoPort to mislead investors about 512, a potential treatment for moderate-to-severe primary Restless Legs Syndrome, including misleading the public about 512's safety.

On February 17, 2010, the Company publicly disclosed that the U.S. Food and Drug Administration had declined to approve 512, with concerns about laboratory results showing pancreatic cell tumors in rats as a result of the use of the drug. Upon this news, XenoPort's stock fell $12.93 per share to close at $6.67 per share on February 18, 2010 -- a one-day decline of 66%.

If you are a shareholder of XenoPort, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at info@robbinsumeda.com.



[PREV] [1] ..[2238][2239][2240][2241][2242][2243][2244][2245][2246].. [2716] [NEXT]



All
Legal Business
Headline Legal News
Court News
Court Watch
Legal Interview
Topics in Legal News
Attorney News
Press Release
Opinions
Legal Marketing
Politics
Judge in Trump case orders media not..
Supreme Court rejects appeal from Bl..
Top Europe rights court condemns Swi..
Elon Musk will be investigated over ..
Retired Supreme Court Justice Anthon..
The Man Charged in an Illinois Attac..
Texas’ migrant arrest law will rema..
Former Georgia insurance commissione..
Alabama woman who faked kidnapping p..
A Supreme Court ruling in a social m..
Denying same-sex marriage is unconst..
Trump wants N.Y. hush money trial to..
 Law Firm Web Design Information
Law Promo has worked with attorneys, lawyers and law firms all over the world in designing beautiful law firm websites that look great on all devices, from desktop computers to mobile phones. Law Promo can construct your law firm a brand new responsive law firm website, or help you redesign your existing site to secure your place in the mobile world. Solo Practice Law Firm Website Design


   Lawyer & Law Firm Links
Amherst, Ohio Divorce Lawyer
Sylkatis Law - Child Custody
loraindivorceattorney.com
St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
Car Accident Lawyers
Sunnyvale, CA Personal Injury Attorney
www.esrajunglaw.com
Family Law in East Greenwich, RI
Divorce Lawyer - Erica S. Janton
www.jantonfamilylaw.com/about
Connecticut Special Education Lawyer
www.fortelawgroup.com
San Francisco Trademark Lawyer
San Jose Trademark Lawyer
www.onulawfirm.com
 
 
Disclaimer: The content contained on the web site has been prepared by Romeo Media as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. Blog postings and hosted comments are available for general educational purposes only and should not be used to assess a specific legal situation. Legal Business News for You to Reach America's Legal Professionals. Get the latest legal news and information.