NEW YORK, April 28, 2017 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of SCYNEXIS, Inc. securities (NASDAQ: SCYX): (1) pursuant or traceable to SCYNEXIS's initial public offering on or about May 2, 2014; and/or (2) from May 2, 2014 through March 2, 2017, inclusive (the "Class Period"). The lawsuit seeks to recover damages for SCYNEXIS investors under the federal securities laws.
To join the SCYNEXIS class action, go to http://rosenlegal.com/cases-1081.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The complaint alleges that defendants during the Class Period made false and misleading statements and/or failed to disclose that (1) SCYNEXIS' lead product SCY-078 entailed substantial undisclosed health and safety risks; (2) consequently, SCYNEXIS had overstated the drug's approval prospectus and/or commercial viability; and (3) as a result, SCYNEXIS' public statements were materially false and misleading at all relevant times.
On March 2, 2017, SCYNEXIS announced after market closed that the FDA placed clinical hold on clinical trials for the intravenous formulation of SCYNEXIS' lead product candidate SCY-078 following a review of three mild-to-moderate thrombotic events in healthy volunteers receiving the IV formulation of SCY-078 at the highest doses and highest concentrations in a Phase 1 study. On this news, share of SCYNEXIS fell $0.57 per share or over 17% to close at $2.70 per share on March 3, 2017, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 8, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://rosenlegal.com/cases-1081.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
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SOURCE Rosen Law Firm, P.A.