SHAREHOLDER ALERT - Zogenix, Inc. (ZGNX) Bronstein, Gewirtz & Grossman, LLC Announces Class Action and Lead Plaintiff Deadline: June 11, 2019
NEW YORK, May 20, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Zogenix, Inc. (“Zogenix” or the “Company”) (NASDAQ: ZGNX) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Zogenix securities between February 6, 2019 and April 8, 2019, both dates inclusive. Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/zgnx.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
On April 8, 2019, Zogenix announced that the Company had received a Refusal To File (“RTF”) letter from the U.S. Food and Drug Administration (“FDA”) regarding its New Drug Application (“NDA”) for FINTEPLA, the Company’s proposed treatment for seizures associated with Dravet syndrome. Zogenix advised investors that “the FDA determined that the NDA . . . was not sufficiently completed to permit a substantive review. . . . [F]irst, certain non-clinical studies were not submitted to allow assessment of the chronic administration of fenfluramine; and, second, the application contained an incorrect version of a clinical dataset, which prevented the completion of the review process that is necessary to support the filing of the NDA.” On this news, Zogenix’s stock price fell sharply during intraday trading on April 9, 2019.
The lawsuit alleges that the Company and its executives violated federal securities laws by failing to disclose that: (1) Zogenix’s NDA for FINTEPLA contained inadequate non-clinical data and an incorrect version of a clinical dataset; (2) consequently, Zogenix’s NDA for FINTEPLA was unlikely to gain FDA approval; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/zgnx 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 Zogenix you have until June 11, 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.
Contact:Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | firstname.lastname@example.org