NEW YORK, Oct. 28, 2019 /PRNewswire/ -- 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, Zynerba's 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.
Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com
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SOURCE Bernstein Liebhard LLP