ZYNERBA CLASS ACTION ALERT: Bernstein Liebhard LLP Announces the Filing of a Securities Class Action Against Zynerba Pharmace...
October 25 2019 - 12:06PM
Business Wire
Bernstein Liebhard, a nationally acclaimed investor rights law
firm, announces that a securities class action has been filed on
behalf of investors that purchased or acquired the securities of
Zynerba Pharmaceuticals (“Zynerba” or the “Company”) (NASDAQ: ZYNE)
between March 11, 2019, and September 17, 2019, inclusive (the
“Class Period”). The lawsuit filed in the United States District
Court for the Eastern District of Pennsylvania alleges violations
of the Securities Exchange Act of 1934.
If you purchased Zynerba securities, and/or would like to
discuss your legal rights and options please visit Zynerba
Shareholder Class Action or contact Matthew E. Guarnero toll free
at (877) 779-1414 or MGuarnero@bernlieb.com.
The complaint filed in this class action 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) Zygel was proving
unsafe and not well-tolerated in the BELIEVE 1 Trial; (ii) the
foregoing created a foreseeable, heightened risk that Zynerba would
fail to secure the necessary regulatory approvals for
commercializing Zygel for the treatment of DEE in children and
adolescents; and (iii) as a result, the Company's public statements
were materially false and misleading at all relevant times. On
September 18, 2019, during pre-market hours, Zynerba issued a press
release announcing results from the BELIEVE 1 Trial evaluating
topical gel Zygel in children and adolescents with DEE (the
September 2019 Press Release).
While Zynerba asserted that Zygel was well-tolerated in the
September 2019 Press Release, it also disclosed that, among
patients enrolled in the BELIEVE 1 Trial, the rate of treatment
emergent adverse events (TEAEs) was 96%, the rate of treatment
related adverse events (TRAEs) was 60%, and there were ten patients
who reported serious adverse events (SAEs), of which, two SAEs
(lower respiratory tract infection and status epilepticus) were
determined to be possibly related to treatment.
On this news, Zynerbas stock price fell $2.46 per share, or
21.77%, to close at $8.84 per share on September 18, 2019.
If you purchased Zynerba securities, and/or would like to
discuss your legal rights and options please visit
https://www.bernlieb.com/cases/zynerbapharmaceuticalsinc-zyne-shareholder-class-action-lawsuit-stock-fraud-209/apply/
or contact Matthew E. Guarnero toll free at (877) 779-1414
or MGuarnero@bernlieb.com.
If you wish to serve as lead plaintiff, you must move the Court
no later than December 23, 2019. A lead plaintiff is a
representative party acting on behalf of other class members in
directing the litigation. Your ability to share in any recovery
doesn’t require that you serve as lead plaintiff. If you choose to
take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5
billion for its clients. In addition to representing individual
investors, the Firm has been retained by some of the largest public
and private pension funds in the country to monitor their assets
and pursue litigation on their behalf. As a result of its success
litigating hundreds of lawsuits and class actions, the Firm has
been named to The National Law Journal’s “Plaintiffs’ Hot List”
thirteen times and listed in The Legal 500 for ten consecutive
years.
ATTORNEY ADVERTISING. © 2019 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New York 10016, (212) 779-1414. The
lawyer responsible for this advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
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version on businesswire.com: https://www.businesswire.com/news/home/20191025005401/en/
Matthew E. Guarnero Bernstein Liebhard LLP
https://www.bernlieb.com (877) 779-1414 MGuarnero@bernlieb.com
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