SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses In Excess Of $100,000 From Investment In AcelRx Pharmace...
October 15 2014 - 8:26PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the Northern
District of California on behalf of purchasers of AcelRx
Pharmaceuticals, Inc. (“AcelRx” or the “Company”) (NASDAQ: ACRX)
common stock and/or call options, or sold/wrote AcelRx’s put
options between December 2, 2013 and September 25, 2014, inclusive
(the “Class Period”). Investors who wish to become proactively
involved in the litigation have until December 1, 2014 to seek
appointment as lead plaintiff.
If you have suffered a loss from investment in AcelRx securities
purchased on or after December 2, 2013 and held through the
revelation of negative information during and/or at the end of the
Class Period, as described below, and would like to learn more
about this lawsuit and your ability to participate as a lead
plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. No class has yet been certified in the above action.
Members of the Class will be represented by the lead plaintiff and
counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among
applicants claiming the largest loss from investment in Company
units during the Class Period. Brower Piven also encourages anyone
with information regarding the Company’s conduct during the period
in question to contact the firm, including whistleblowers, former
employees, shareholders and others.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that the Instructions
for Use (IFU) for Zalviso (sufentanil sublingual tablet system),
formerly known as ARX-01, which consists of sufentanil tablets
delivered by the Zalviso System (collectively, “Zalviso”) were not
designed to adequately address the risk of the inadvertent
misplacement of tablets and that AcelRx had not submitted to the
U.S. Food and Drug Administration sufficient data to support the
shelf life of the product. According to the complaint, following
the Company’s July 25, 2014 announcement that it had received a
Complete Response Letter from FDA regarding its NDA for Zalviso
requesting additional data, and the Company’s September 26, 2014
disclosure that the resubmission process for its Zalviso NDA would
not be complete until the first quarter of 2015 at the earliest
with a review period of six months, the value of AcelRx declined
significantly.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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