Robbins Arroyo LLP: Nabriva Therapeutics plc (NBRV) Misled Shareholders According to a Recently Filed Lawsuit
SAN DIEGO & DUBLIN--(BUSINESS WIRE)--May 28, 2019--
Shareholder rights law firm Robbins Arroyo LLP reminds investors that a purchaser of Nabriva Therapeutics plc filed a class action complaint against Nabriva Therapeutics plc (NASDAQ: NBRV) for alleged violations of the Securities Exchange Act of 1934 between November 1, 2018 and April 30, 2019. Nabriva is a biopharmaceutical company that develops novel anti-infective agents to treat serious infections. One of its product candidates is CONTEPO, an epoxide antibiotic developed by Zavante Therapeutics, which Nabriva acquired in July 2018.
View this information on the law firm’s Shareholder Rights Blog:
Nabriva Accused of Misleading Investors
According to the complaint, in November 2018, Nabriva announced the submission of its New Drug Application (“NDA”) to the U.S. Food and Drug Administration (“FDA”) for Intravenous CONTEPO. In the following months, Nabriva released press releases touting the progress of the NDA through the approval process. However, Nabriva failed to disclose quality control issues relating to its manufacturers’ practices. In April 2019, Nabriva revealed that the FDA would not approve the NDA due to “issues related to facility inspections and manufacturing deficiencies at one of Nabriva’s contract manufacturers.” On this news, the Nabriva’s share price fell over 27% to close at $2.17 per share on May 1, 2019.
Nabriva Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leo Kandinov at (800) 350-6003, firstname.lastname@example.org or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20190528005798/en/
CONTACT: Leo Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San Diego, CA 92122
(619) 525-3990 or Toll Free (800) 350-6003
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SOURCE: Robbins Arroyo LLP
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PUB: 05/28/2019 05:44 PM/DISC: 05/28/2019 05:44 PM