NEW YORK, Oct. 31, 2018 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Nektar Therapeutics (“Nektar” or the “Company”) (Nasdaq: NKTR) in the United States District Court for the Northern District of California on behalf of a class consisting of investors who purchased or otherwise acquired Nektar securities between November 11, 2017 and October 2, 2018, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.
The Complaint alleges that Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) prior studies which attempted to pegylate IL-2 failed; (2) NKTR-214’s extended half-life was unlikely to result in efficacy and created additional high-dosing safety concerns; (3) NKTR-214 was less effective than IL-2 alone; (4) the combination of NKTR-214 with nivolumab has not yet demonstrated significant positive results; and (5) as a result, Nektar’s public statements as set forth above were materially false and misleading at all relevant times.
Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the December 31, 2018 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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