Edge Shareholders: Bernstein Liebhard LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Edge Therapeut...
02 Mai 2018 - 3:06PM
Bernstein Liebhard LLP reminds investors that a class action
lawsuit has been filed on behalf of purchasers of the securities of
Edge Therapeutics, Inc. (“EDGE” or the “Company”) (NASDAQ:EDGE)
between December 29, 2017 and March 27, 2018, both dates inclusive
(the “Class Period”). The lawsuit seeks to recover damages for Edge
investors under the federal securities laws.
To join the Edge class action, and/or if you
have information relating to this matter, please visit our EDGE
SHAREHOLDER PAGE or contact Daniel Sadeh toll free at (877)
779-1414 or dsadeh@bernlieb.com.
According to the lawsuit, throughout the Class
Period, Defendants made false and/or misleading statements and/or
failed to disclose that: (1) the Company’s lead product candidate
EG-1962 would likely fail a futility analysis in connection with
the NEWTON 2 study; and (2) as a result, the Company’s financial
statements and Defendants’ statements about Edge’s business,
operations, and prospects, were materially false and misleading at
all relevant times.
On December 29, 2017, Edge announced that “an
independent Data Monitoring Committee (DMC) recommended that the
Phase 3 NEWTON 2 study of EG-1962 continue as planned based on the
completion of a pre-planned futility analysis. The DMC made this
recommendation after evaluating data from the Day 90 follow-up
visit of the first 150 patients randomized and treated.”
Then, on March 28, 2018, Edge announced
“that a pre-specified interim analysis on data from the Day 90
visit of the first 210 subjects randomized and treated in the Phase
3 NEWTON 2 study of EG-1962 demonstrated a low probability of
achieving a statistically-significant difference compared to the
standard of care in the study's primary endpoint, if the study is
fully enrolled.” As a result, “[t]he independent Data Monitoring
Committee (DMC) recommended that the study be stopped based on its
conclusion that the study has a low probability of meeting its
primary endpoint.” Based on the DMC’s recommendation, Edge stated
that it will discontinue the Phase 3 NEWTON 2 study.
On this news, Edge’s stock fell $14.28 per
share, or nearly 92%, to close at $1.31 per share on
March 28, 2018, damaging investors.
If you wish to serve as lead plaintiff, you must
move the Court no later than June 22, 2018. 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.
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ATTORNEY ADVERTISING. © 2018 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 InformationDaniel SadehBernstein
Liebhard LLPhttp://www.bernlieb.com(877)
779-1414dsadeh@bernlieb.com
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