NEW YORK, Nov. 28, 2016 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities law firm, reminds
investors in Cempra, Inc. ("Cempra" or the "Company") (NASDAQ:CEMP)
of the January 3, 2017 deadline to
seek the role of lead plaintiff in a federal securities class
action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the
Middle District of North Carolina
on behalf of all those who purchased Cempra common stock between
October 22, 2015 and November 1, 2016 (the "Class Period"). The
case, PASQUAL v. CEMPRA, INC. et al, No. 1:16-cv-01356 was
filed on November 22, 2016, and has
been assigned to Judge Thomas D.
Schroeder.
The lawsuit focuses on whether the Company and its executives
violated federal securities laws by failing to disclose that its
lead product candidate, solithromycin, a pneumonia therapy drug,
can cause an elevation in liver enzyme levels, a significant safety
signal for hepatotoxicity.
Specifically, on November 2, 2016,
the United States Food and Drug Administration ("FDA") posted on
its website a preliminary review of solithromycin in which it
indicated that the drug can lead to an elevation in liver enzyme
levels and other potential causes of hepatotoxicity. This came as a
surprise as the Company had provided fully positive reviews of the
development of solithromycin.
After the announcement, Cempra's share price fell from
$18.65 per share on November 1, 2016 to a closing price of
$7.30 on November 2, 2016—an $11.35 or a 60.9% drop.
Request more information now by clicking here:
www.faruqilaw.com/CEMP. There is no cost or obligation to
you.
Take Action
If you invested in Cempra common stock or options between
October 22, 2015 and November 1, 2016 and would like to discuss your
legal rights, visit www.faruqilaw.com/CEMP. You can also contact us
by calling Richard Gonnello toll
free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to
rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also
encourages anyone with information regarding Cempra's conduct to
contact the firm, including whistleblowers, former employees,
shareholders and others.
The court-appointed lead plaintiff is the investor with the
largest financial interest in the relief sought by the class that
is adequate and typical of class members who directs and oversees
the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any
recovery is not affected by the decision of whether or not to serve
as a lead plaintiff.
Attorney Advertising. The law firm responsible for this
advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with
respect to any future matter. We welcome the opportunity to discuss
your particular case. All communications will be treated in a
confidential manner.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello,
Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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