Glancy Prongay & Murray Announces the Filing of a Securities Class Action on Behalf of Cempra, Inc. Investors & Encourages In...
November 21 2016 - 2:55PM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) announces that a
class action lawsuit has been filed on behalf of investors who
purchased Cempra, Inc. (“Cempra” or the “Company”) (NASDAQ: CEMP)
securities between May 1, 2016 and November 1, 2016,
inclusive (the “Class Period”). Cempra investors have
until January 3, 2017 to file a lead plaintiff
motion.
Investors suffering losses on their Cempra investments are
encouraged to contact Lesley Portnoy of GPM to discuss their legal
rights in this class action at 310-201-9150 or by email to
shareholders@glancylaw.com.
The Complaint filed in this lawsuit alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts
about the Company’s business, operations, and prospects.
Specifically, Defendants made false and/or misleading statements
and/or failed to disclose that: (i) solithromycin posed significant
safety risks for hepatotoxicity; and (ii) as a result of the
foregoing, Cempra’s public statements were materially false and
misleading at all relevant times.
On November 2, 2016, the Company’s shares fell as much as 61%,
after FDA briefing documents noted the Company’s Solithera may
cause liver injury, and this must be weighed against its efficacy
for treatment in treating pneumonia.
If you purchased shares of Cempra during the Class Period you
may move the Court no later than January 3,
2017 to ask the Court to appoint you as lead plaintiff if
you meet certain legal requirements. To be a member of the Class
you need not take any action at this time; you may retain counsel
of your choice or take no action and remain an absent member of the
Class. If you wish to learn more about this action, or if
you have any questions concerning this announcement or your rights
or interests with respect to these matters, please contact Lesley
Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los
Angeles California 90067 at 310-201-9150, Toll-Free at
888-773-9224, by email to shareholders@glancylaw.com, or visit our
website at http://glancylaw.com. If you inquire by email please
include your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20161121006082/en/
Glancy Prongay and Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224https://www.glancylaw.comshareholders@glancylaw.com
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