Shareholders Foundation, Inc.

Dynavax Technologies Corporation (NASDAQ:DVAX) Investor Alert: Lawsuit Against Directors Filed

A lawsuit was filed by a current investor in shares of Dynavax Technologies Corporation (NASDAQ:DVAX) over alleged wrongdoing and current long-term NASDAQ:DVAX stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 

San Diego, CA -- (ReleaseWire) -- 09/04/2013 -- An investor, who currently holds shares of Dynavax Technologies Corporation (NASDAQ:DVAX), filed a lawsuit over alleged breaches of fiduciary duties by certain directors of Dynavax Technologies.

Investors who are current long-term stockholders in shares of Dynavax Technologies Corporation (NASDAQ:DVAX), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges that the defendants caused the share price of Dynavax Technologies Corporation (NASDAQ:DVAX) to increase by misrepresenting prospects of Dynavax Technologies’ Heplisav hepatitis B drug and when the truth was revealed NASDAQ:DVAX shares declined by almost 70%

On Feb. 25, 2013, Dynavax Technologies Corporation announced that it received a Complete Response Letter from the U.S. Food and Drug Administration (“FDA” or Agency) regarding its Biologic License Application for HEPLISAV, an investigational adult hepatitis B vaccine. Among other things, the FDA specified in the complete response letter, that the indication in adults 18-70 years of age cannot be approved without further evaluation of safety in this broad age group.

Shares of Dynavax Technologies Corporation declined from $3.118 per share on Feb. 22, 2013 to $1.87 per share on Feb. 25, 2013.

Then on June 10, 2013, Dynavax Technologies Corporation reported that it recently concluded a meeting with the U.S. Food and Drug Administration regarding its Biologic License Application for HEPLISAV. Shares of Dynavax Technologies Corporation fell from $2.55 per share on June 6, 2013 to $1.01 per share on June 18, 2013.

On September 3, 2013, NASDAQ:DVAX shares closed at $1.28 per share.

Those who purchased shares of Dynavax Technologies Corporation (NASDAQ:DVAX), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com