Post by icemandios on May 30, 2018 19:40:58 GMT
Glancy Prongay & Murray LLP Announces Investigation on Behalf of MabVax Therapeutics Holdings, Inc. Investors (MBVX)
LOS ANGELES
LOS ANGELES
Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of MabVax Therapeutics Holdings, Inc. (“MabVax” or the “Company”) (NASDAQ: MBVX) investors concerning the Company and its officers’ possible violations of federal securities laws.
To obtain information or actively participate in the class action, please visit the MabVax page on our website at www.glancylaw.com/case/mabvax-therapeutics-holdings-inc.
On May 24, 2018, MabVax received notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires the timely filing of periodic reports with the U.S. Securities and Exchange Commission. The notice was sent as a result of the delay in the filing of the Company's Quarterly Report on Form 10-Q for the period ending March 31, 2018 (the "Form 10-Q"). On this news, shares of MabVax fell significantly, thereby injuring investors.
In accordance with the Nasdaq Listing Rules, the Company has been provided a period of 60 days from the date of the notice to either file the Form 10-Q or to submit a plan to regain compliance with the Rule for the Staff's review. If a plan is submitted and accepted, the Company could be granted up to 180 days from the Form 10-Q's due date, or until November 12, 2018, to regain compliance.
MBVX was already well on the way to "injuring investors" when the 24th rolled around:
Must be slim pickin's around Glancy Prongay & Murray.