NEW YORK, June 4, 2019 /PRNewswire/ -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announced that a securities class action lawsuit has been filed on behalf of those who purchased or acquired the securities of Heron Therapeutics, Inc. ("Heron," "HRTX" or the "Company") (NASDAQ: HRTX) between October 31, 2018 and April 30, 2019, both dates inclusive (the "Class Period"). The lawsuit, filed in the United States District Court for the Southern District of California, seeks to recover damages for Heron investors under the Securities Exchange Act of 1934.
If you purchased HRTX securities, and/or would like to discuss your legal rights and options, please visit Heron Therapeutics HRTX Class Action Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
According to the lawsuit, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Heron had failed to include adequate Chemistry, Manufacturing, and Controls ("CMC") and non-clinical information in its new drug application ("NDA") for HTX-011, a drug for management of post-operative pain; (ii) the foregoing increased the likelihood that the Food and Drug Administration ("FDA") would not approve Heron's NDA for HTX-011; and (iii) as a result, Heron's public statements were materially false and misleading at all relevant times.
On May 1, 2019, Heron announced that it had received a Complete Response Letter ("CRL") from the FDA on April 30, 2019 regarding the Company's NDA for HTX-011. Heron advised investors that "[t]he CRL stated that the FDA is unable to approve the NDA in its present form based on the need for additional CMC and non-clinical information."
On this news Heron's stock price fell $3.93 per share, or 18.13% to close at $17.75 per share on May 1, 2019.
If you wish to serve as lead plaintiff in the Heron class action, you must move the court no later than August 5, 2019. 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 take no action, you may remain an absent class member.
If you purchased Heron securities, and/or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/heron-therapeutics-hrtx-shareholder-lawsuit-class-action-fraud-stock-138/or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
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