Investigation for Long-Term Investors in shares of Portola Pharmaceuticals, Inc. (NASDAQ: PTLA)

An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Portola Pharmaceuticals, Inc..

Investors who are current long term investors in Portola Pharmaceuticals, Inc. (NASDAQ: PTLA) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NASDAQ: PTLA stocks follows a lawsuit filed against Portola Pharmaceuticals, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: PTLA stocks, concerns whether certain Portola Pharmaceuticals, Inc. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that 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.

This release was published on openPR.