Newman Ferrara LLP Announces Corporate Governance Investigation of Clovis Oncology Inc. - CLVS
NEW YORK, November 30, 2016 (BUSINESS WIRE) -- Newman Ferrara LLP announced today that the firm is conducting an investigation on behalf of shareholders of Clovis Oncology Inc. (“Clovis” or the “Company”)(NASDAQ:CLVS) focusing on potential breaches of fiduciary duty by the Company’s Board of Directors (the “Board”).
Clovis is a biopharmaceutical company headquartered in Boulder, Colorado. Despite the Company’s lack of revenue, low market capitalization, and increasing investment in research and development since it became a public company in 2011, the Board continues to make decisions, without shareholder approval, that significantly diminish shareholder value and do not benefit the Company. Based on this, it appears the Board lacks the ability to fairly assess and oversee the Company’s direction and leadership.
Current Clovis stockholders seeking more information on this matter are invited to contact Newman Ferrara attorneys Jeffrey Norton (jnorton@nfllp.com) or Roger Sachar, Jr. (rsachar@nfllp.com) to discuss this investigation and their rights.
Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.
CONTACT:
Newman Ferrara LLP
Jeffrey M. Norton
1250 Broadway, 27th Fl.
New York, NY 10001
(212) 619-5400