SHAREHOLDER ACTION ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Portola Pharmaceuticals, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

LOS ANGELES, CA / ACCESSWIRE / January 24, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Portola Pharmaceuticals, Inc. ("Portola" or "the Company") (NASDAQ:PTLA) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company's securities between November 5, 2019 and January 9, 2020, inclusive (the ''Class Period''), are encouraged to contact the firm before March 16, 2020.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Portola failed to maintain effective internal controls over financial reporting, including reserves for product returns. The Company was actively shipping longer-dated product with a 36-month shelf life, but did not maintain adequate reserves for returns from its prior shipments of shorter-dated product. This put the Company in the position of likely requiring an accounting "catch up" on return reserves. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Portola, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
Cell: 424-303-1964
info@schallfirm.com

SOURCE: The Schall Law Firm

ReleaseID: 574063