Shareholders Foundation, Inc.

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Investor Alert: Investigation over Possible Violations of Securities Laws

An investigation for investors in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) shares over potential securities laws violations. was announced and NASDAQ:RIGL stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 

San Diego, CA -- (ReleaseWire) -- 12/19/2012 -- An investigation on behalf of investors of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) shares over potential securities laws violations in connection certain financial statements was announced.

Investors who purchased shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) concerning whether a series of statements by Rigel Pharmaceuticals, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) reported that its annual Revenue declined from $125 million in 2010 to $4.75 million in 2012 and that its Net Income of $37.89 million in 2010 turned into a Net Loss of $85.97 million in 2011.

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) grew from as low as $6.55 per share in May 2010 to as high as $11.20 per share in July 2012.

Then on Dec. 13, 2012, before the market opened, Rigel Pharmaceuticals, Inc. announced the results of a a treatment for rheumatoid arthritis that it is partnering with AstraZeneca PLC. Rigel Pharmaceuticals, Inc. said that while the study had two primary objectives and the treatment failed to meet one of two main goals.

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) dropped from $8.45 per share on Dec. 12, 2012, to $5.40 per share on Dec. 13, 2012.

On Dec. 18, 2012, NASDAQ:RIGL shares closed at $6.58 per share.

Those who purchased shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) 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