Securities attorney, Lars Soreide, of Soreide Law Group, PLLC, is currently investigating the Dendreon Corp. (NASDAQ: DNDN) for possible violations of federal securities laws after the company’s withdrawal of its sales forecasts for its prostate cancer therapy Provenge. Dendreon projected that it would earn between $350 - $400 million on sales of Provenge.
With the announcement of Dendreon withdrawing it's earnings guidance, the stock fell from a closing price on August 3, 2011 of $33.65 to an opening price on August 4, 2011 of $12.73. The shares of DNDN fell more than 60 percent after the company withdrew its 2011 revenue estimates allegedly costing the company $3.2 billion in market value. Today, it is at $11.05.
If you or a family member invested in DNDN stock and suffered losses, call a Securities Arbitration Lawyer for a free consultation on how to potentially recover your losses. To speak with an attorney, call 888-760-6552, or visit www.securitieslawyer.com.
Soreide Law Group, PLLC., representing investors nationwide before FINRA the Financial Industry Regulatory Authority.
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