NEW YORK, Dec. 2, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Zafgen Inc. ("Zafgen" or the "Company") (NASDAQ: ZFGN). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Zafgen and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On October 16, 2015, pre-market, Zafgen announced that the FDA had ordered a "partial clinical hold" on the Company's Beloranib clinical trials following the death of a patient. On this news, Zafgen shares fell $10.66, or 50.7%, to close at $10.36 on October 16, 2015.
On December 2, 2015, pre-market, Zafgen disclosed a second patient death in the Company's Beloranib trials, stating that the Company had learned of the death the previous day. On this news, Zafgen stock has fallen as much as $9.98, or 62.6%, during intraday trading on December 2, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP