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Class Action Alert: Robbins LLP Takes Action on Behalf of Actinium Pharmaceuticals Investors

In an important move for investors, Robbins LLP has filed a class action lawsuit against Actinium Pharmaceuticals, Inc. (NYSE: ATNM) concerning allegations of misleading information impacting shareholders. The class action encompasses all individuals and entities that purchased or acquired Actinium securities from October 31, 2022, to August 2, 2024.

Background on Actinium Pharmaceuticals

Actinium Pharmaceuticals operates as a late-stage biopharmaceutical company focused on developing targeted radiotherapy treatments. Their primary product, Iomab-B, aims to assist patients who have not had success with traditional oncology therapies. However, the recent allegations paint a concerning picture regarding the company's transparency with investors, specifically in relation to the FDA's approval processes.

The Allegations

The crux of the lawsuit centers around claims that Actinium misled investors about the likelihood of FDA approval for their Biologics License Application (BLA) of Iomab-B. According to the complaint, during the defined class period, the defendants presented overly positive assessments of the Sierra Trial’s data while downplaying critical failures regarding Overall Survival (OS) metrics, which did not meet the necessary statistical significance or clinical relevance that would support approval.

The company's communication suggested that the FDA had previously approved the design of the Sierra Trial, leading investors to believe that resulting data would not pose a significant barrier to their potential BLA approval. However, a public announcement made on August 5, 2024, shattered these expectations. Actinium revealed that the FDA believed the data from that trial did not sufficiently support a BLA filing and required another clinical study for consideration. This announcement resulted in a significant drop in Actinium's stock price—reportedly falling $3.69, or about 60%, to close at $2.48 on that day.

What to Expect

The class action represents an opportunity for affected shareholders to recover their losses. Investors who wish to serve as lead plaintiffs must file their applications by May 26, 2025. Being a lead plaintiff implies a responsibility to act on behalf of other class members in the litigation process, although it is not a requirement to participate in order to claim any potential recovery from the lawsuit.

Robbins LLP operates on a contingency fee basis, meaning that shareholders won’t incur legal fees unless the action results in a favorable outcome. This ensures that the interests of individual investors are prioritized without the immediate financial burden of legal costs.

About Robbins LLP

Robbins LLP has distinguished itself as a leader in shareholder rights litigation, working tirelessly since 2002 to aid investors in recovering losses and promoting better corporate governance practices. In light of these troubling developments with Actinium Pharmaceuticals, the firm continues to advocate for investor rights while also providing valuable resources for shareholders monitoring related corporate misconduct.

For shareholders who wish to stay updated, signing up for alerts through Robbins LLP’s Stock Watch is encouraged. This service provides notifications regarding potential settlements and other corporate malfeasance as it arises.

Conclusion

As the situation unfolds, affected investors are urged to remain informed and consider participating in this important legal action. The Robbins LLP class action presents a crucial avenue for redress and may serve as a pivotal moment in holding Actinium accountable for its alleged misrepresentations.

For further details or inquiries related to participation, interested parties can reach out to Robbins LLP, where dedicated legal professionals are ready to assist.