SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

August 05, 2011 14:27 ET

Levi & Korsinsky Notifies Investors With Losses on Their Investment in Dendreon Corporation of Class Action Lawsuit and the October 3, 2011 Lead Plaintiff Deadline

NEW YORK, NY--(Marketwire - Aug 5, 2011) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Western District of Washington at Seattle on behalf of purchasers of Dendreon Corporation ("Dendreon") (NASDAQ: DNDN) who purchased shares between January 7, 2011 and August 3, 2011 (the "Class Period").

To get more information, click here: http://zlk.9nl.com/dendreon/.

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business and operations. The complaint alleges that defendants knew or deliberately disregarded the fact that financial forecasts regarding the immediate adoption of the Company's cancer drug PROVENGE were dramatically inflated, particularly in light of the fact that the Company had not provided physicians with financing options. The complaint further alleges that Dendreon lacked adequate systems of internal operational or financial controls.

As a result of the aforementioned, shares of Dendreon traded at an artificially high price. On August 3, 2011, Dendreon issued a press release announcing financial and operational results well below analyst expectations, and significantly lowered guidance for 2011. Following this release, shares of Dendreon stock declined more than 60 percent.

If you are a member of the class and suffered a loss in Dendreon stock, you have until October 3, 2011 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead plaintiff. To obtain additional information about your rights, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://www.zlk.com/dendreon-dndn.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 15th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com