NEW YORK, Sept. 29, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Seres Therapeutics, Inc. ("Seres" or the "Company") (NASDAQ: MCRB) (ISIN: US81750R1023). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Seres and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 29, 2016, Seres issued a press release announcing that the Phase 2 clinical trial of SER-109, the Company's lead drug product candidate, did not achieve its primary endpoint. In an earnings call, President and CEO Roger J. Pomerantz also revealed that certain undisclosed modifications had been made to the formulation of SER-109 prior to the trial.
On these disclosures, Seres stock fell $26.04, or 72.8%, over the next two trading days, to close at $9.73 on August 1, 2016.
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 80 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
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SOURCE Pomerantz LLP