Legal Action Announced Against Actinium Pharmaceuticals for Potential Securities Fraud

Investor Alert: Actinium Pharmaceuticals Faces Class Action Lawsuit

Pomerantz LLP, a prominent law firm in investor protection, has recently announced the initiation of a class action lawsuit against Actinium Pharmaceuticals, Inc. (NYSE: ATNM). This legal action comes on the heels of significant losses reported by investors in the company, prompting the firm to seek lead plaintiffs to represent those affected by alleged fraudulent practices.

Key Details of the Lawsuit

Actinium Pharmaceuticals is under scrutiny for potential securities fraud and other unlawful business measures. Investors who acquired Actinium securities during the specified class period have until May 26, 2025, to appoint themselves as lead plaintiffs in this case. Furthermore, inquiries regarding participation or further details can be directed to Pomerantz's dedicated representative, Danielle Peyton.

The lawsuit stems from events surrounding the company's press release issued on August 5, 2024. In this statement, Actinium provided an update regarding its Biologics License Application (BLA) for Iomab-B, a treatment intended for patients suffering from active relapsed or refractory acute myeloid leukemia (r/r AML). The U.S. Food and Drug Administration (FDA) indicated that the Phase 3 SIERRA trial was insufficient to support a BLA filing, despite the trial achieving statistically significant primary endpoints.

This revelation was detrimental to the company’s stock, leading to a staggering fall of $3.69 per share, with the price plummeting nearly 60% to close at $2.48 on the same day. Such a drastic reduction underlines the impact that regulatory feedback can have on pharmaceutical companies, particularly those operating in highly regulated markets.

Background on Pomerantz LLP

Established over 85 years ago by the pioneering attorney Abraham L. Pomerantz, who is recognized as a key figure in the field of class action lawsuits, Pomerantz LLP specializes in corporate, securities, and antitrust litigation. The firm has developed a reputation for championing the rights of investors against fraudulent practices in the corporate sector. Their expertise has resulted in numerous multi-million dollar recoveries for class members.

For those considering participation in the lawsuit, it is essential to stay updated by obtaining a copy of the complaint available at Pomerantz's official website. Potential plaintiffs are also encouraged to streamline their inquiries by including relevant personal information such as their mailing address and number of shares purchased when reaching out.

In conclusion, the ongoing developments surrounding Actinium Pharmaceuticals present a critical juncture for investors who have sustained losses. With Pomerantz LLP leading the charge, there may be recourse for those affected to seek justice and compensation for their investments in the wake of potential misconduct within the company.