ACCESSWIRE
25 Jan 2023, 05:55 GMT+10
SAN FRANCISCO, CA / ACCESSWIRE / January 24, 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 Dallas Sun 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 Dallas Sun.
More InformationLONG BEACH, California: Long Beach, California-based Rocket Lab has launched its first mission from the United States, as part of ...
Israel was behind Sunday morning's drone strike on an Iranian munitions facility; the Wall Street Journal has reported, citing American ...
LONDON, England: Of the 14 main battle tanks and additional artillery support it will send to Ukraine, Britain hopes its ...
LONDON, England: Insurance broker Aon has estimated that natural disasters caused global economic losses worth $313 billion in 2022.It added ...
NEW YORK CITY, New York: After being convicted of stealing more than $900,000 from the company, Rosita Joseph, former executive ...
WASHINGTON D.C.: The US State Department has said that in the latest fiscal year, US military equipment exported to foreign ...
NEW YORK, New York - U.S. stocks closed sharply lower Monday as investors fretted over which way the Federal Reserve ...
Ahmedabad (Gujarat) [India], January 30 (ANI/Big News Network): The Adani group, in a sharp and focused response to Hindenburg Research's ...
SEOUL, South Korea: South Korean officials have said that the government will double energy vouchers and provide discounts on gas ...
WASHINGTON D.C.: The Wall Street Journal has reported that e-cigarette maker Juul and three tobacco giants are negotiating potential sale, ...
AUSTIN, Texas: Tesla gas announced an investment of more than $3.6 billion to expand its Nevada Gigafactory complex with the ...
WASHINGTON D.C.: US Senate Energy and Natural Resources Committee chair Joe Manchin has introduced legislation that imposes battery sourcing requirements ...