NEW YORK, Aug. 18, 2021 /PRNewswire/ -- Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Annovis Bio, Inc.. ("Annovis Bio" or the "Company") (NYSE: ANVS) from May 21, 2021 through July 28, 2021 (the "Class Period"). The lawsuit filed in the United States District Court for the Eastern District of Pennsylvania alleges violations of the Securities Act of 1934.
If you purchased Annovis Bio securities, and/or would like to discuss your legal rights and options please visit Annovis Bio Shareholder Class Action Lawsuit or contact Rujul Patel toll free at (877) 779-1414 or [email protected]
The Complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements as well as failed to disclose adverse facts about the Company's business, operations, and prospects.
On July 28, 2021, after the market closed, the Company announced that its Alzheimer's and Parkinson's drug, Posiphen, failed to show statistically significant success relative to the placebo in clinical trials.
On this news, the price of Annovis Bio shares fell $65.94 per share, or 60%, to close at $43.50 per share on July 29, 2021, on unusually heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than October 18, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased Annovis Bio securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/annovisbioinc-anvs-shareholder-class-action-lawsuit-fraud-stock-431/apply/ or contact Rujul Patel toll free at (877) 779-1414 or [email protected]
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
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SOURCE Bernstein Liebhard LLP