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Faruqi & Faruqi Says It Is Investigating Potential Securities Fraud At Peregrine

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National securities law firm Faruqi & Faruqi, LLP said it is investigating potential securities fraud at Peregrine Pharmaceuticals, Inc.(PPHM: Quote).

The law firm noted that the investigation focuses on whether the company and its executives violated federal securities laws by failing to disclose that: (1) there were major discrepancies between various patient sample test results and patient treatment code assignments; (2) the clinical data from the company's randomized, double-blind placebo-controlled Phase II trial of bavituximab in second-line non-small cell lung cancer was misleading; and (3) as a result of the foregoing, the company's positive statements about Peregrine's business, operations, and prospects, including those statements relating to the clinical data from the company's randomized, double-blind placebo-controlled Phase II trial of bavituximab in second-line non-small cell lung cancer lacked sufficient support.

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by RTT Staff Writer

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