Market Overview

INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Prothena Corporation plc and Encourages Investors who Purchased Shares in the March 2017 Secondary Offering to Contact the Firm

Share:

The
Schall Law Firm
, a national shareholder rights litigation firm,
announces that it is investigating claims on behalf of investors of
Prothena Corporation plc ("Prothena" or "the Company") (NASDAQ: PRTA)
for violations of §§10(b) and 20(a) of the Securities Exchange Act of
1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and
Exchange Commission.

The investigation focuses on whether BrightView issued false and/or
misleading statements and/or failed to disclose information pertinent to
investors related to its secondary offering on March 8, 2017.

On or about March 8, 2017, Prothena Corporation plc completed a
secondary offering of 2,700,000 of its ordinary shares at a price of
$57.50 per share.

On November 8, 2017, Kerrisdale, an investment research firm, published
a 27-page report exposing that Prothena's Phase 1/2 study results were
misleading. On this news, the price of Prothena stock declined from
$60.96 per share on November 7, 2017, to $56.24 per share on November 8,
2017, a drop of 7.8%.

On February 2, 2018, Prothena abruptly announced that its Chief Medical
Officer, Defendant Noonberg, had resigned. On this news, the price of
Prothena stock declined from $39.60 per share on February 2, 2018, to
close at $32.14 per share when trading resumed on February 5, 2018, a
drop of 19%.

On April 23, 2018, Prothena announced that it "is discontinuing
development of NEOD001, an investigational antibody that was being
evaluated for the treatment of AL amyloidosis." The Company advised
investors that "[b]ased on the results from the Phase 2b PRONTO study,
which did not meet its primary or secondary endpoints, the Company asked
the independent data monitoring committee (DMC) of the Phase 3 VITAL
study to review a futility analysis of the ongoing VITAL study. The DMC
recommended discontinuation of the VITAL study for futility." On this
news, Prothena's share price fell $25.34, or 68.78%, to close at $11.50
on April 23, 2018.

If you are a shareholder who purchased shares in the March 2017
secondary offering and suffered a loss, click
here to participate
.

We also encourage you to contact Brian Schall, or Sherin Mahdavian, of
the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA
90067, at 424-303-1964, to discuss your rights free of charge. You can
also reach us through the firm's website at www.schallfirm.com,
or by email at brian@schallfirm.com.

The class in this case has not yet been certified, and until
certification occurs, you are not represented by an attorney. If you
choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder rights
litigation.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and rules of ethics.

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com