Thieler Law Corp advises investors with losses exceeding $100,000 of the October 26, 2015 lead plaintiff deadline in a class action lawsuit filed against Northwest Biotherapeutics Inc (NASDAQ: NWBO) (“Northwest Bio” or “the Company”). The suit is pending in the U.S. District Court for the District of Maryland and investors, who purchased Northwest Bio securities between March 8, 2013 and August 20, 2015, have until October 26, 2015 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Northwest Bio securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 866-6157 or emailing mail@thielerlaw.com .  No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint allegations are that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Northwest Bio’s claims regarding DCVax-Direct Trial’s positive results were based on preliminary and unconfirmed trial results nor had the results on which the Company reported been reviewed or analyzed by the hospitals conducting the trials. The complaint also alleges that the defendants filed to disclose Northwest Bio’s statements about DCVax-Direct were derived from patient case report forms, which the hospitals were obliged to send to Northwest Bio due to its sponsorship of the trail.  Furthermore the claims made in the complaint point to the additional lack of disclosure of the following,  the Company was the subject of an aggressive stock promotion campaign which included promoters using fictitious identities and false credentials; German regulators required additional information from Northwest Bio in order for the Company’s DCVax-L Trial to continue uninterrupted; and that as a result of the above, the Company’s financial statements were materially false and misleading during the time period described in the complaint.

On June 19, 2014, a report published by the website TheStreet.com stated that, "The prestigious MD Anderson Cancer Center issued a stern rebuke to Northwest Biotherapeutics (NWBO) for making promotional, unjustified claims about results from an ongoing clinical trial of an experimental cancer vaccine known as DCVax-Direct." 

After the release of that news, NASDAQ: NWBO fell $1.79 per share, or almost 20%, on unusually heavy trading volume, to close at $7.18 per share on June 19, 2014.

On July 7, 2014, SeekingAlpha.com issued a report that stated “Northwest Bio has been the subject of a massive promotional campaign which has seen the [Company’s] stock price soar” and that “in some cases, authors have used fictitious identities and fake credentials within healthcare or finance.  In fact, they are simply paid writers.”

Following that report, NASDAQ: NWBO fell $0.43 per share, or more than 6%, to close at $6.71 on July 7, 2014.

On August 21, 2015, before the market opened, news broke that the Company’s Phase 3 DCVax-L brain cancer treatment clinical trial in Germany was temporarily suspended.  Also that day but later on, Northwest Bio stated patient screening for new candidates for the trial had been temporarily suspended while the Company submitted certain information from the trial for regulatory review.

On this news, NASDAQ: NWBO declined $1.92, or 2.16%, to close at $6.96 on August 21, 2015.

If you were negatively impacted by your investment in Northwest Bio securities between March 8, 2013 and August 20, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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