NEW YORK, Feb. 3, 2020 /PRNewswire/ -- WeissLaw LLP, a
national class action and shareholders' rights law firm with
offices in New York, California and Georgia, announces an investigation of Portola
Pharmaceuticals, Inc. (NASDAQ: PTLA) ("Portola," or the "Company").
If you own PTLA shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://weisslawllp.com/portola-pharmaceuticals-inc/
Or please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
The investigation focuses on possible breaches of fiduciary duty
and violations of federal securities laws by the members of
Portola's Board of Directors in
connection the with the Company's flagship drug
Andexxa. Notably, Portola
recently announced that in the fourth quarter of 2019 Andexxa sales
tumbled to $28 million and, as a
result, it anticipated full year revenue of only $111 million. These figures represent a
significant departure from the projections of $41 million in Andexxa sales in the fourth
quarter and $132 million in full year
revenue. On this news, the Company's share price nosedived as much
45.4%.
WeissLaw is investigating whether Portola's Board: (1) made materially false
and/or misleading information about the Company, its operations,
and business prospects; and (2) failed to implement and maintain an
effective system of internal controls over the Company's financial
reporting process.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
clients and obtained important corporate governance relief in many
of these cases. If you have information or would like legal
advice concerning possible corporate wrongdoing (including insider
trading, waste of corporate assets, accounting fraud, or materially
misleading information), consumer fraud (including false
advertising, defective products, or other deceptive business
practices), or anti-trust violations, please email us at
stockinfo@weisslawllp.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/weisslaw-llp-portola-pharmaceuticals-inc-is-the-subject-of-a-legal-investigation-300997078.html
SOURCE WeissLaw LLP