fbpx

INVESTOR ALERT: Brower Piven Encourages Shareholders Who Have Losses in Excess of $100,000 from Investment in MabVax Therapeutics Holdings, Inc. to Contact Brower Piven before the Lead Plaintiff Deadline in Class Action Lawsuit

The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been commenced in
the United States District Court for the Southern District of California
on behalf of purchasers of MabVax Therapeutics Holdings, Inc. (Nasdaq:
MBVX) (“MabVax” or the “Company”) securities during the period between
March 14, 2016 and May 18, 2018, inclusive (the “Class Period”).
Investors who wish to become proactively involved in the litigation have
until August 3, 2018 to seek appointment as lead plaintiff.

If you wish to choose counsel to represent you and the class, you must
apply to be appointed lead plaintiff and be selected by the Court. The
lead plaintiff will direct the litigation and participate in important
decisions including whether to accept a settlement for the class in the
action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in MabVax securities during
the Class Period. Members of the class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff. No class has yet
been certified in the above action.

The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the defendants’ failure to disclose
during the Class Period that MabVax’s internal controls over financial
reporting were materially weak and deficient, it had incorrectly
calculated and reported beneficial ownership of MabVax shares, and it
permitted improper influence or control over MabVax, and/or MabVax’s
officers and directors by certain shareholders.

According to the complaint, following a January 30, 2018 announcement
that MabVax received notice that the Securities and Exchange Commission
(“SEC”) was conducting an investigation relating to certain of the
Company’s registration statements (and amendments thereto), and a May
21, 2018, announcement that the Company believes the SEC is
investigating potential violations of the federal securities laws by the
Company and its officers, directors and others, and that prior annual
and interim period financial statements for the years 2014, 2015, 2016
and 2017, and its registration statements filed during the years 2014,
2015, 2016, 2017 and to date for 2018 with respect to the number of
shares of common stock outstanding and the weighted average number of
shares used in calculating earnings per share and related per share
figures should not be relied upon, the value of MabVax declined
significantly.

If you have suffered a loss in excess of $100,000 from investment in
MabVax securities purchased on or after March 14, 2016 and held through
the revelation of negative information during and/or at the end of the
Class Period and would like to learn more about this lawsuit and your
ability to participate as a lead plaintiff, without cost or obligation
to you, please contact Brower Piven either by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s. If you choose to retain counsel,
you may retain Brower Piven without financial obligation or cost to you,
or you may retain other counsel of your choice. You need take no action
at this time to be a member of the class.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180616005003/en/