SHAREHOLDER ALERT - Zynerba Pharmaceuticals, Inc. (ZYNE) - Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action and Lead Plaintiff Deadline: December 23, 2019
NEW YORK, Nov. 08, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Zynerba Pharmaceuticals, Inc. ("Zynerba" or the "Company") (ZYNE) and certain of its officers, on behalf of shareholders who purchased Zynerba securities between March 11, 2019, and September 17, 2019, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/zyne.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The Complaint alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Zygel was proving unsafe and not well-tolerated in the BELIEVE 1 Trial; (2) 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 (3) 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." Following 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 wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/zyne or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Zynerba you have until December 23, 2019 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]