New York-based law firm Faruqi & Faruqi, LLP is urging shareholders of Actinium Pharmaceuticals, Inc. (NYSE: ATNM) to come forward if they suffered losses exceeding $75,000 between October 31, 2022, and August 2, 2024. The firm is currently investigating possible securities law violations by the company and its leadership.
The investigation follows a significant drop in Actinium’s stock price and allegations that the company misled investors regarding the viability of its Iomab-B Biologics License Application (BLA). A federal securities class action lawsuit has already been filed, and investors must seek lead plaintiff status by May 26, 2025.
Allegations of Misleading Statements and FDA Concerns
According to the complaint, Actinium allegedly made false or misleading statements about the success of its Sierra Trial and the likelihood of FDA approval. The lawsuit claims executives failed to disclose that the Sierra Trial data were unlikely to meet FDA expectations and that follow-up analyses aimed at improving the overall survival narrative were insufficient.
Additionally, it is believed the company knew the FDA would likely reject or refuse to review the BLA in its current form. This resulted in investor decisions based on overly optimistic and potentially deceptive claims.
Stock Plummets After Regulatory News Breaks
The situation escalated on August 5, 2024, when Actinium publicly revealed it would need to conduct another clinical trial to support its BLA filing. Following this announcement, the company’s stock price crashed nearly 60%, dropping from $6.17 to $2.48 on unusually heavy trading volume. This drastic drop caused substantial financial damage to shareholders.
Legal Options and Shareholder Rights
Faruqi & Faruqi Partner James (Josh) Wilson is inviting affected investors to call him directly at 877-247-4292 or 212-983-9330 (Ext. 1310) for a free consultation on their rights. Investors can also learn more about the case at www.faruqilaw.com/ATNM.
The court will appoint a lead plaintiff—typically the investor with the largest financial loss—to guide the lawsuit on behalf of all others in the class. However, any investor can choose to be involved or opt to remain a passive member of the class.
Whistleblowers and Former Employees Encouraged to Step Forward
The firm is also calling on anyone with inside information—including former employees, whistleblowers, and other stakeholders—to come forward. All communications will be kept confidential.
Faruqi & Faruqi has a long-standing reputation in securities litigation, having recovered hundreds of millions of dollars for investors since 1995. They maintain offices in New York, Pennsylvania, California, and Georgia.
