EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Seattle Genetics Inc. – SGEN

NEW YORK, Jan. 31, 2017 -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Seattle Genetics Inc. securities (NASDAQ:SGEN) from October 27, 2016 through December 23, 2016, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Seattle Genetics investors under the federal securities laws.

To join the Seattle Genetics class action, go to http://rosenlegal.com/cases-1020.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

According to the lawsuit, throughout the Class Period defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) vadastuximab talirine, one of Seattle Genetics’ products in development, presents a significant risk of fatal hepatotoxicity; (2) as such, Seattle Genetics had overstated the viability of vadastuximab talirine as a treatment for acute myeloid leukemia; and (3) as a result, defendants’ public statements about Seattle Genetics’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 13, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://rosenlegal.com/cases-1020.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].

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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

Contact Information:
      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      Kevin Chan, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 34th Floor
      New York, NY  10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      [email protected]
      [email protected]
      www.rosenlegal.com