or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing CEMP@hbsslaw.com.
Cempra allegedly omitted disclosing to investors that its drug, solithromycin, created significant health risks to users.
On November 2, 2016 the Food and Drug Administration reported that solithromycin may cause a serious rise in liver enzymes and result in hepatotoxicity. This report drove the price of Cempra shares down approximately 60% to close at $7.30 per share that day.
On November 3, 2016 Benzinga quoted a stock analyst who stated: "[w]e had previously argued liver enzyme elevations alone would be a navigable subject matter – but the revelation of a previously-undisclosed instance of definitive solithromycin mediated drug-induced liver injury…now fundamentally challenges this hypothesis."
On December 12, 2016, Cempra's President and CEO (Prabha Fernandes) abruptly retired effective immediately.
"We're evaluating the FDA's material and the results of the FDA's advisory panel meeting in the context of the defendants' public statements about solithromycin," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Cempra should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower 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 510-725-3000 or email CEMP@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm's Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cempra-inc-investor-reminder-hagens-berman-reminds-cempra-investors-of-lead-plaintiff-deadline-300377585.html
SOURCE Hagens Berman Sobol Shapiro LLP