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Bragar Eagel & Squire, P.C. Reminds Traders That Class Motion Lawsuits Have Been Filed In opposition to Celsion, Citigroup, Raytheon, Intercept Prescribed drugs and Encourages Traders to Contact the Agency

NEW YORK, Nov. 24, 2020 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally acknowledged shareholder rights regulation agency, reminds buyers that class actions have been commenced on behalf of stockholders of Celsion Company (NASDAQ: CLSN), Citigroup, Inc. (NYSE: C), Raytheon Applied sciences Company (NYSE: RTX), and Intercept Prescribed drugs, Inc. (NASDAQ: ICPT). Stockholders have till the deadlines beneath to petition the court docket to function lead plaintiff. Extra details about every case could be discovered on the hyperlink offered. Celsion Company (NASDAQ: CLSN) Class Interval: November 2, 2015 to July 10, 2020Lead Plaintiff Deadline: December 28, 2020Celsion is an built-in improvement scientific stage oncology drug firm that focuses on the event and commercialization of directed chemotherapies, DNA-mediated immunotherapy, and RNA-based therapies for the remedy of most cancers.Celsion’s lead product candidate is ThermoDox, a heat-activated liposomal encapsulation of doxorubicin that’s in Part III scientific improvement for treating major liver most cancers.In February 2014, Celsion introduced that the U.S. Meals and Drug Administration (“FDA”) had reviewed and offered clearance for the Firm’s deliberate pivotal, double-blind, placebo-controlled Part III trial of ThermoDox together with radio frequency ablation (“RFA”) in major liver most cancers, often known as hepatocellular carcinoma (“HCC”), known as the “OPTIMA Examine.” The trial design was purportedly based mostly on a complete evaluation of information from the Firm’s Part III HEAT Examine, which purportedly demonstrated that remedy with ThermoDox resulted in a 55% enchancment in general survival (“OS”) in a considerable variety of HCC sufferers that obtained an optimized RFA remedy. On July 13, 2020, Celsion introduced that “it ha[d] obtained a suggestion from the unbiased [DMC] to think about stopping the worldwide Part III OPTIMA Examine of ThermoDox® together with [RFA] for the remedy of [HCC], or major liver most cancers.” Based on the Firm, “[t]he suggestion was made following the second pre-planned interim security and efficacy evaluation by the DMC on July 9, 2020,” which “discovered that the pre-specified boundary for stopping the trial for futility of 0.900 was crossed with an precise worth of 0.903.”On this information, Celsion’s inventory value fell $2.29 per share, or 63.97%, to shut at $1.29 per share on July 13, 2020.The criticism, filed on October 29, 2020, alleges that all through the Class Interval defendants made materially false and deceptive statements relating to the Firm’s enterprise, operational and compliance insurance policies. Particularly, defendants made false and/or deceptive statements and/or did not disclose that: (i) defendants had considerably overstated the efficacy of ThermoDox; (ii) the foregoing considerably diminished the approval and commercialization prospects for ThermoDox; and (iii) because of this, the Firm’s public statements had been materially false and deceptive in any respect related occasions.For extra info on the Celsion class motion go to: https://bespc.com/cases/CLSNCitigroup, Inc. (NYSE: C) Class Interval: January 15, 2016 to October 12, 2020Lead Plaintiff Deadline: December 29, 2020The Class Interval begins on February 25, 2017, following the Firm’s submission of its 2016 Annual Report back to the SEC. In that submitting, and all through the Class Interval, Citi assured buyers that there have been no important deficiencies or materials weaknesses within the Firm’s inner controls. When confronted with periodic regulatory penalties for noncompliance, the Firm continued to guarantee buyers that the precise deficiencies at situation had been being remediated promptly and that inner controls and regulatory compliance had been a high precedence at Citi. Particularly, Citi assured buyers that it glad all regulatory necessities and maintained sufficient inner controls, information governance, compliance threat administration, and enterprise threat administration.In actuality, in the course of the Class Interval and unbeknownst to buyers, Citi’s inner controls and threat administration capabilities suffered from “critical” and “longstanding” inadequacies that uncovered the Firm to huge regulatory penalties and can value considerably greater than $1 billion to remediate. Particular management failures about which Citi executives had been warned remained unresolved for years and the Firm’s tradition of non-compliance was so widespread that Citi’s CEO, Defendant Michael Corbat, exhorted staff in an inner memo that regulatory compliance required greater than “checking containers.”The reality started to emerge on September 14, 2020, when studies surfaced that regulators had been making ready to reprimand Citi for failing to enhance its risk-management programs.That disclosure precipitated the worth of Citi’s inventory to say no $2.85 per share, from $51.00 to $48.15, erasing $5.91 billion in shareholder worth.After the market closed on September 14, 2020, an inner memo despatched to Citi staff revealed for the primary time the Firm’s disregard for sufficient inner controls and regulatory compliance.Consequently, the worth of Citi’s inventory declined a further $3.34 per share, from $48.15 to $44.81, erasing $6.93 billion in shareholder worth.Then, on October 13, 2020, Citi reported earnings for the third quarter of 2020, and disclosed that the Firm’s bills elevated in the course of the third quarter by 5%, to $11 billion, attributable to a rise in prices together with a $400 million positive, investments in infrastructure, and different remediation prices associated to regulate deficiencies.These disclosures precipitated Citi’s inventory value to say no by $2.20 per share, from $45.88 to $43.68, erasing $4.57 billion in shareholder worth.For extra info on the Citigroup class motion go to: https://bespc.com/cases/CRaytheon Applied sciences Company (NYSE: RTX) Class Interval: February 10, 2016 to October 27, 2020Lead Plaintiff Deadline: December 29, 2020On October 27, 2020, after market hours, Raytheon filed its quarterly report on Type 10-Q with the SEC for the quarter ended September 30, 2020 (the “3Q20 Report”). The 3Q20 Report introduced the DOJ Investigation, stating in pertinent half: “On October 8, 2020, the Firm obtained a legal subpoena from the DOJ searching for info and paperwork in reference to an investigation regarding monetary accounting, inner controls over monetary reporting, and price reporting relating to Raytheon Firm’s Missiles & Protection enterprise since 2009.”On this information, the worth of Raytheon shares fell $4.19 per share, or 7%, to shut at $52.34 per share on October 28, 2020, on unusually heavy buying and selling quantity, damaging buyers.The criticism, filed on October 30, 2020, alleges that all through the Class Interval defendants made false and/or deceptive statements and/or did not disclose that: (1) Raytheon had insufficient disclosure controls and procedures and inner management over monetary reporting; (2) Raytheon had defective monetary accounting; (3) because of this, Raytheon misreported its prices relating to Raytheon’s Missiles & Protection enterprise since 2009; (4) because of the foregoing, Raytheon was liable to elevated scrutiny from the federal government; (5) because of the foregoing, Raytheon would face a legal investigation by the U.S. Division of Justice (“DOJ”); and (6) because of this, defendants’ public statements had been materially false and/or deceptive in any respect related occasions. When the true particulars entered the market, the lawsuit claims that buyers suffered damages.For extra info on the Raytheon class motion go to: https://bespc.com/cases/RTXIntercept Prescribed drugs, Inc. (NASDAQ: ICPT) Class Interval: September 28, 2019 to October 7, 2020Lead Plaintiff Deadline: January 4, 2021Intercept’s lead product candidate is Ocaliva (obeticholic acid (“OCA”)), a farnesoid X receptor agonist used for the remedy of major biliary cholangitis (“PBC”), a uncommon and power liver illness, together with ursodeoxycholic acid in adults. The Firm can also be creating OCA for varied different indications, together with nonalcoholic steatohepatitis (“NASH”).On Could 22, 2020, Intercept reported that the FDA “has notified Intercept that its tentatively scheduled June 9, 2020 advisory committee assembly (AdCom) regarding the corporate’s [NDA] for [OCA] for the remedy of liver fibrosis attributable to [NASH] has been postponed” to “accommodate the overview of further information requested by the FDA that the corporate intends to submit throughout the subsequent week.”On this information, Intercept’s inventory value fell $11.18 per share, or 12.19%, to shut at $80.51 per share on Could 22, 2020.On June 29, 2020, Intercept issued a press launch asserting that the FDA had issued a Full Response Letter (“CRL”) rejecting the Firm’s NDA for Ocaliva for the remedy of liver fibrosis attributable to NASH.On this information, Intercept’s inventory value fell $30.79 per share, or 39.73%, to shut at $46.70 per share on June 29, 2020.Then, on October 8, 2020, information retailers reported that Intercept was “dealing with an investigation from the [FDA] over the potential threat of liver harm in sufferers taking Ocaliva, [Intercept’s] remedy for major biliary cholangitis, a uncommon, power liver illness.”On this information, Intercept’s inventory value fell $3.30 per share, or 8.05%, to shut at $37.69 per share on October 8, 2020.The criticism, filed on November 5, 2020, alleges that all through the Class Interval defendants made materially false and deceptive statements relating to the Firm’s enterprise, operational and compliance insurance policies. Particularly defendants made false and/or deceptive statements and/or did not disclose that: (i) Defendants downplayed the true scope and severity of security issues related to Ocaliva’s use in treating PBC; (ii) the foregoing elevated the chance of an FDA investigation into Ocaliva’s improvement, thereby jeopardizing Ocaliva’s continued marketability and the sustainability of its gross sales; (iii) any purported advantages related to OCA’s efficacy in treating NASH had been outweighed by the dangers of its use; (iv) because of this, the FDA was unlikely to approve the Firm’s NDA for OCA in treating sufferers with liver fibrosis attributable to NASH; and (v) because of all of the foregoing, the Firm’s public statements had been materially false and deceptive in any respect related occasions.For extra info on the Intercept class motion go to: https://bespc.com/cases/ICPT-2About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally acknowledged regulation agency with places of work in New York and California. The agency represents particular person and institutional buyers in business, securities, spinoff, and different complicated litigation in state and federal courts throughout the nation. For extra details about the agency, please go to www.bespc.com. Legal professional promoting. Prior outcomes don’t assure related outcomes.Contact Data: Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Melissa Fortunato, Esq. Marion Passmore, Esq. (212) 355-4648 investigations@bespc.com www.bespc.com

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