UPCOMING DEADLINE: Levi & Korsinsky, LLP Reminds Shareholders of Seres Therapeutics, Inc. of a Class Action Lawsuit & a Lead ...
November 23 2016 - 10:21AM
Business Wire
The following statement is being issued by Levi & Korsinsky,
LLP:
To: All persons or entities who purchased shares of Seres
Therapeutics, Inc. (“Seres Therapeutics”) (NASDAQ: MCRB)
between June 25, 2015 and July 29,
2016. You are hereby notified that a securities
class action lawsuit has been commenced in the USDC for the
District of Massachusetts. To get more information go
to:
http://www.zlk.com/pslra/seres-therapeutics
or contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the Class Period, Seres
Therapeutics made materially false and misleading positive
statements about the potential and efficacy of its lead drug
product candidate SER-109. In particular, it is alleged that Seres
touted the drug, calling it one among a “novel class of biological
drugs” and a potential “first-in-field drug” despite knowledge that
the Phase 2 clinical trial of SER-109 would fail to achieve its
primary endpoint as compared to placebo.
On July 29, 2016, the Company issued a press release announcing
that the Phase 2 clinical trial of SER-109 did not achieve its
primary endpoint. In an earnings call, President and CEO Roger J.
Pomerantz also revealed that certain undisclosed modifications had
been made to the formulation of SER-109 prior to the trial.
Following this news, shares of Seres Therapeutics fell from a close
of $35.77 on July 28, 2016, to a close of just $9.73 on August 1,
2016.
If you suffered a loss in Seres Therapeutics you have until
November 28, 2016 to request that
the Court appoint you as lead plaintiff. Your ability to share in
any recovery doesn’t require that you serve as a lead
plaintiff.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, California, Connecticut, and Washington D.C. The
firm’s attorneys have extensive expertise and experience
representing investors in securities litigation, and have recovered
hundreds of millions of dollars for aggrieved shareholders.
Attorney advertising. Prior results do not guarantee similar
outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20161123005443/en/
Levi & Korsinsky, LLPJoseph E. Levi, Esq.Tel: (212)
363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171www.zlk.com
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