BOSTON, Aug. 10, 2018 /PRNewswire/ -- Thornton Law Firm LLP is investigating a potential lawsuit on behalf of purchasers of the securities of Menlo Therapeutics Inc. (NASDAQ: MNLO) pursuant or traceable to the registration statement and prospectus issued in connection with Menlo's January 2018 initial public offering ("IPO"). The lawsuit seeks to recover damages for Menlo investors/shareholders under the federal securities laws. MNLO stock has dropped significantly after recent revelations that Menlo's leading product, serlopitant, is no better than a placebo at treating certain skin conditions.
If you purchased Menlo Therapeutic Inc. stock, you may have a claim for damages resulting from misstatements in the Menlo Therapeutics IPO prospectus and registration statement. To discuss your legal rights, please contact Guillaume O. Buell at the Thornton Law Firm at [email protected], or call 617-720-1333.
The investigation involves Menlo's skin-treatment drug "serlopitant" and whether Menlo has made false or misleading statements regarding the drug's success in treating pruritis associated with atopic dermatitis. In IPO materials provided to investors, including Menlo's registration statement and prospectus, Menlo may have made false and misleading statements regarding the success of serlopitant in clinical trials, the measure by which clinical data were measured, and whether serlopitant would advance to Phase 3 clinical trials or obtain FDA approval. When Menlo came clean to the market regarding the clinical failure of serlopitant, its stock dropped nearly 70%, from approximately $38/share to as low as $7/share. Investors have lost millions of dollars.
If you are a Menlo shareholder who suffered a loss, please contact Guillaume O. Buell at the Thornton Law Firm at [email protected], or call 617-720-1333.
Thornton Law Firm's securities attorneys specialize in representing individual shareholders and institutional investors in recovering damages caused by corporate fraud. Its attorneys have decades of experience litigating securities fraud cases in courts throughout the country and have a proven track record of recovering losses on behalf of shareholders. This release may be considered attorney advertising. Prior results do not guarantee any outcome.
SOURCE Thornton Law Firm, LLP