SOURCE: Kahn Swick & Foti, LLC

September 30, 2011 18:08 ET

3 Days Left Only -- Kahn Swick & Foti, LLC and Partner Former Louisiana Attorney General Announce Suit Against Dendreon Corp.: Remind Investors With Losses Over $500,000 of Important 10/3/11 Deadline -- DNDN

NEW ORLEANS, LA--(Marketwire - Sep 30, 2011) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, Former Attorney General of Louisiana, Charles C. Foti, Jr., announce that only 3 days remain for investors to file lead plaintiff applications in the firm's securities class action lawsuit against Dendreon Corp. ("Dendreon" or the "Company") (NASDAQ: DNDN). If you purchased shares of Dendreon between 4/29/2010 and 8/3/2011, you may contact the firm now.

What You May Do
If you are a Dendreon shareholder and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free, 877-515-1850, or via cell phone any time at 504-301-7900. If you wish to serve as a lead plaintiff in this class action 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 10/3/11. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. KSF also encourages anyone with information regarding Dendreon's conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

About the Lawsuit
Dendreon and certain of its officers are charged with making a series of materially false and misleading statements related to the Company's business and operations in violation of the Securities Exchange Act of 1934.

The complaint alleges that on August 3, 2011, after the close of trading, Dendreon revealed financial and operational results, well below analysts' expectations -- and significantly lowered 2011 guidance. Following this release, shares of the Company fell over 60%, or over $22.00 per share, to reach a multi-year low of $13.39 per share when trading opened on August 4, 2011. Shares close down to $11.69, for a combined decline of over 67% from the prior day's close. According to the Wall Street Journal, "Chief Executive Mitchell Gold said Wednesday that the launch of the drug will have a "more gradual trajectory" than previously expected because of "reimbursement knowledge" related to the drug. That means that the process of getting reimbursed is difficult enough for doctors that it is discouraging use of the treatment."

About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders. To learn more about KSF, you may visit www.ksfcounsel.com.

Contact Information

  • Contact:
    Kahn Swick & Foti, LLC
    Lewis Kahn
    Managing Partner
    877-515-1850
    or after hours via cell phone 504-301-7900
    lewis.kahn@ksfcounsel.com

    206 Covington St.
    Madisonville, LA 70447