Robbins Arroyo LLP: IsoRay, Inc. (ISR) Misled Shareholders According to a Recently Filed Class Action

Robbins Arroyo LLP announces that an investor of IsoRay, Inc. (NYSE: ISR) has filed a federal securities fraud class action complaint in the U.S. District Court for the Central District of California. The complaint alleges that the company and certain of its officers and directors violated the Securities Exchange Act of 1934. IsoRay develops, manufactures, and sells isotope-based medical products and devices for the treatment of cancer and other malignant diseases in the U.S.

IsoRay Misrepresents Its Business Practices

According to the complaint, defendants made materially false and misleading statements regarding the success of its Cesium-131 seeds in treating lung cancer. Specifically, IsoRay issued a press release touting the on-line publication of the first major peer reviewed study showing improved results using its Cesuim-131 seeds in the treatment of lung cancer. Subsequently, TheStreet.com published an article asserting that IsoRay selectively edited findings from the published study to make its Cesium-131 product seem better than it really is to make up for the company’s inability to deliver revenue growth. Over the next several days, IsoRay fell $1.84 per share, or 42%, on heavy trading volume.

IsoRay Shareholders Have Legal Options

Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.

 

Shareholder Information

Items marked with an asterisk (*) are required information.

First Name * Last Name *
Address City State/Province *
ZIP/Postal Code Country/Region Phone *
E-mail * Confirm: E-mail *

Shares Purchased:
Number of Shares: Buy Date : Price Per Share:
example: 125 example: MM/DD/YYYY example: 30.00
transaction:
transaction:
transaction:
transaction:
transaction:
If you have additional transactions or comments, please input the information below:

Shares Sold:
Number of Shares: Sell Date : Price Per Share:
example: 125 example: MM/DD/YYYY example: 30.00
transaction:
transaction:
transaction:
transaction:
transaction:
If you have additional transactions or comments, please input the information below:

Please Note: Neither the submission to nor the receipt of information by Robbins Arroyo LLP or one of its attorneys through this website constitutes an agreement by our firm to represent the individual and does not create an attorney-client relationship. Please do not send confidential or sensitive information through this website. This information should be communicated through a direct contact with an individual at the firm.

* I have read the disclaimer information
+=

    Send This Post

    Tags: