ACCESSWIRE
20 Jan 2023, 05:05 GMT+10
SAN FRANCISCO, CA / ACCESSWIRE / January 19, 2023 / Hagens Berman urges Veru Inc. (NASDAQ:VERU) investors with significant losses to submit your losses now.
Class Period: May 11, 2022 - Nov. 9, 2022
Lead Plaintiff Deadline: Feb. 6, 2023
Visit: www.hbsslaw.com/investor-fraud/VERU
Contact An Attorney Now: VERU@hbsslaw.com
844-916-0895
Veru Inc. (NASDAQ: VERU) Securities Fraud Class Action:
The complaint alleges that throughout the Class Period, Defendants misrepresented and concealed material adverse facts about the data from the Phase 3 trial and the Company's interactions with the FDA concerning sabizabulin (VERU-111), its orally administered COVID 19 drug intended to treat hospitalized patients at high risk for acute respiratory distress syndrome.
Specifically, Veru misled investors into believing that the data from the Phase 3 trial was sufficient to support Emergency Use Authorization ('EUA') and even the submission of a New Drug Application ('NDA') without any further studies. VERU's filings therefore concealed the true risks faced by the Company in gaining approval for its EUA request.
Investors learned the truth on Nov. 9, 2022, when Veru announced that the FDA advisory committee ('AdCom') voted against approving sabizabulin under the agency's EUA pathway. Separately, AdCom's briefing document highlighted 'several uncertainties in the data that may impact the clinical interpretation of the efficacy results.'
This news sent the price of Veru shares crashing 53% lower in a single trading day.
'We're focused on investors' losses and proving Veru misled investors about the sufficiency of data it submitted in support of its sabizabulin EUA and about its communications with the FDA,' said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Veru and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Veru should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email VERU@hbsslaw.com.
# # #
About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP
Get a daily dose of Hawaii Telegraph news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Hawaii Telegraph.
More InformationWASHINGTON D.C.: After a House Ethics Committee report found substantial evidence that he broke the law, New York Republican representative ...
In a report by The New York Times, it has been revealed that Israeli officials had obtained a detailed battle ...
NAYPYIDAW, Myanmar: Kyar Win, spokesperson for the Myanmar National Democratic Alliance Army, which launched a surprise offensive last month against ...
While Secretary of State Anthony Blinken has been frantically shuttling around the Middle East trying to stop the Israeli coflict ...
LESBOS, Greece: Greek authorities said a cargo ship sank off the island of Lesbos over the weekend during a storm, ...
COLUMBUS, Ohio: To stop the spread of bird flu, more than 1.3 million chickens will be killed on Ohio's Union ...
NEW YORK, New York - U.S. stocks extended their rally on Friday despite remarks by Federal Reserve Chair Jerome Powell ...
MOSCOW, Russia: Russia's trade in oil with India, one of the most lucrative oil trade routes since the imposition of ...
LONDON - Health experts and tobacco campaigners have strongly criticized New Zealand's decision to repeal laws that aimed to ban ...
NEW YORK, New York - The Dow Jones index was the standout on U.S. financial markets on Thursday with a ...
WASHINGTON D.C.: Despite the ongoing economic uncertainty, major discounts during the Thanksgiving weekend enticed U.S. shoppers, who spent some US$38 ...
BANGKOK, Thailand: This week, Thailand's Deputy Finance Minister Krisada Chinavicharana said after a weaker-than-expected third quarter, the country will downgrade ...