LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 Investing In Zogenix, Inc. To Contact The Firm
NEW YORK, May 21, 2019 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Zogenix, Inc. (“Zogenix” or the “Company”)(NASDAQ:ZGNX) of the June 11, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Zogenix stock or options between February 6, 2019 and April 8, 2019 and would like to discuss your legal rights, click here: www.faruqilaw.com/ZGNX. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com.
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The lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Zogenix securities between February 6, 2019 and April 8, 2019 (the “Class Period”). The case, Lake v. Zogenix, Inc. et al., No. 19-cv-01975 was filed on April 12, 2019, and has been assigned to Judge Richard Seeborg.
The lawsuit focuses on whether 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.
On April 8, 2019, Zogenix issued a press release announcing that the Company had received an RTF letter from the FDA stating that the Company‘s NDA for FINTEPLA was not sufficiently complete to permit a substantive review.
On this news, Zogenix’s share price fell from $51.85 per share on April 8, 2019 to a closing price of $39.96 on April 9, 2019: a $11.89 or a 22.93% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Zogenix’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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