Robbins Umeda LLP Announces an Investigation of Aeterna Zentaris Inc.
June 01 2012 - 7:22PM
Business Wire
Shareholder rights firm Robbins Umeda LLP, announces an
investigation into Aeterna Zentaris Inc. (NASDAQ: AEZS). Concerned
shareholders who would like more information about their rights and
potential remedies can contact attorney Gregory E. Del Gaizo at
(800) 350-6003, inquiry@robbinsumeda.com, or via the shareholder
information form on the firm's website.
Robbins Umeda LLP is investigating whether officers and
directors at Aeterna Zentaris issued materially false and
misleading statements to investors that were designed to deceive
the market and artificially inflate the company's stock price. In
particular, the firm is examining allegations that senior officials
at Aeterna Zentaris misled investors by failing to accurately
disclose material information about the prospects of perifosine,
its development-stage colon cancer drug.
On April 2, 2012, shares of Aeterna Zentaris plummeted after the
company announced that perifosine administered with capecitabine in
patients with refractory advanced colorectal cancer failed to
improve overall survival versus capecitabine and placebo. Following
the emergence of these facts, shares of Aeterna
Zentaris lost approximately 66% of their value. After closing
at $2.14 per share on March 30, 2012, shares of Aeterna Zentaris
common stock closed on April 2, 2012 at just $0.73 per share.
Robbins Umeda LLP highlights that one option available to
Aeterna Zentaris shareholders is filing a class action lawsuit on
behalf of investors to recover damages incurred as a result of the
wrongdoing.
Robbins Umeda LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits, and has helped its
clients realize more than $1 billion of value for themselves and
the companies in which they have invested. For more information,
please go to http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/aeterna-zentaris-inc/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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