Federman & Sherwood Files Class Action Lawsuit
Class Action News
[##_1L|1361837252.jpg|width="130" height="94" alt=""|_##]Friday evening, Federman & Sherwood said that a class action lawsuit was filed in the United States District Court for the Southern District of New York, on July 5, 2007 against Threshold Pharmaceuticals, Inc. (THLD | charts | news | PowerRating). The complaint alleges violations of federal securities laws, Sections 10(B | charts | news | PowerRating) and 20(A | charts | news | PowerRating) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material misrepresentations to the market which had the effect of artificially inflating the market price.
THLD closed Friday's regular trading session at $1.18, down $0.06 or 4.84%. However, in after hours trading, shares grew $0.0147 or 1.25%, trading at $1.1947.
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