NEW YORK, NY / ACCESSWIRE / July 22, 2015 / Pomerantz LLP is investigating claims on behalf of investors of Xoma Corporation ("Xoma" or the "Company") (NASDAQ: XOMA). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Xoma and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 22, 2015, pre-market, the company announced that a Phase III trial of its treatment (gevokizumab) for Behcet's disease in the eye missed the primary endpoint of time to first acute ocular exacerbation. The company announced that it will continue to work with its French partner, Servier, to conduct a thorough analysis of the data.
On this news, the company's shares have dropped as much as 3.54, more than 80%, to $0.85 on intraday trading on July 22, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz, LLP
