Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $50,000 Investing In IsoRay, Inc. To Contact The Firm Ahead of Imminent Lead Plaintiff Deadline
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in IsoRay, Inc. (“IsoRay” or the “Company”) (NYSE: ISR) of the July 21, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased IsoRay securities between May 20, 2015 and May 21, 2015 (the “Class Period”).
The investigation focuses on whether IsoRay and its executives violated federal securities laws by manipulating the Company’s lung cancer study results in order to prop up IsoRay’s stock price.
On May 12, 2015, the market news website TheStreet.com published an article titled "IsoRay Takes Liberties With Lung Cancer Study Results to Prop Up Stock Price," which reported that "To make up for the inability to deliver revenue growth -- and prop up its stock price -- IsoRay issues a lot of promotional press releases, some of which take liberties with clinical data using clever, selective editing." The article goes on to give the following example: IsoRay recently trumpeted a 100% survival at five years in high risk patients being treated with Cesium-131 without mentioning that the comparable five-year survival rate for patients undergoing surgery alone is 98%.
On this news, IsoRay share price declined $1.10 per share, or 35.25%, from a closing price of $3.12 on May 20, 2015, to close at $2.02 per share on May 21, 2015, on extremely heavy trading volume.
If you invested in IsoRay stock or options and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding IsoRay’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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