NEW YORK, March 12, 2020 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Portola Pharmaceuticals Inc. (“Portola” or the Company”) (NASDAQ: PTLA) and certain of its officers, on behalf of shareholders who purchased Portola securities between November 5, 2019 and January 9, 2020, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/ptla.       

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Portola’s internal control over financial reporting regarding reserve for product returns was not effective; (2) Portola was shipping longer-dated product with 36-month shelf life; (3) Portola had not established adequate reserve for returns of prior shipments of short-dated product; (4) as a result, Portola was reasonably likely to need to "catch up" on accounting for return reserves; and (5) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/ptla or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Portola you have until March 16, 2020 to request that the Court appoint you as lead plaintiff.  A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com