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Deadline in Lawsuit for Investors in shares of Portola Pharmaceuticals, Inc. (NASDAQ: PTLA) on March 16th coming up

02-20-2020 04:05 PM CET | Politics, Law & Society

Press release from: Shareholders Foundation

A Deadline is coming up on March 16, 2020 in the lawsuit for certain investors in Portola Pharmaceuticals, Inc. (NASDAQ: PTLA).

A Deadline is coming up on March 16, 2020 in the lawsuit for certain investors in Portola Pharmaceuticals, Inc. (NASDAQ: PTLA).

The Shareholders Foundation announced that a deadline is coming up on March 16, 2020in the lawsuit filed for certain investors of Portola Pharmaceuticals, Inc. (NASDAQ: PTLA) over alleged securities laws violations by Portola Pharmaceuticals, Inc.

Investors who purchased shares of Portola Pharmaceuticals, Inc. (NASDAQ: PTLA) have certain options and there are strict and short deadlines running. Deadline: March 16, 2020. NASDAQ: PTLA stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges on behalf of purchasers of Portola Pharmaceuticals, Inc. (NASDAQ: PTLA) common shares between November 5, 2019 and January 9, 2020, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 5, 2019 and January 9, 2020, the Defendants failed to disclose to investors that Portola's internal control over financial reporting regarding reserve for product returns was not effective, that Portola was shipping longer-dated product with 36-month shelf life, that Portola had not established adequate reserve for returns of prior shipments of short-dated product, that, as a result, Portola was reasonably likely to need to "catch up" on accounting for return reserves, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Portola Pharmaceuticals, Inc. (NASDAQ: PTLA) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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