NEW YORK, NY / ACCESSWIRE / January 21, 2020 / Pomerantz LLP is investigating claims on behalf of investors of Portola Pharmaceuticals, Inc. ("Portola" or the "Company") (NASDAQ:PTLA) Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Portola and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On January 9, 2020, Portola announced preliminary net revenues of only $28 million for the fourth quarter of 2019. Portola attributed the result to a $5 million reserve adjustment for short-dated product, and flat quarter-over-quarter demand. On this news, Portola's stock price fell $9.98 per share, or 40.34%, to close at $14.76 per share on January 10, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
SOURCE: Pomerantz LLP
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