NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until March 16, 2020 to file lead plaintiff applications in securities class action lawsuits against Portola Pharmaceuticals, Inc. (NasdaqGS: PTLA), if they purchased the Company’s securities between January 8, 2019 and February 26, 2020, inclusive (the “Class Period”). These actions are pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased securities of Portola and would like to discuss your legal rights and how these cases might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-ptla/ to learn more. If you wish to serve as a lead plaintiff in these class actions by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by March 16, 2020.
About the Lawsuit
Portola and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. On January 9, 2020, the Company disclosed preliminary net revenues for 4Q2019 significantly below analysts’ consensus estimates due to falling demand for its lead product, Andrexxa, and that it was taking a substantial charge of $5 million for unused and returned product previously recognized as revenue. On this news, the price of Portola’s shares plummeted.
The first-filed case is Paul Hayden, et al. v. Portola Pharmaceuticals, Inc., et al., 20-cv-00367.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner