NEW YORK, March 13, 2019 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Corbus Pharmaceuticals Holdings, Inc. ("Corbus" or the "Company") (NASDAQ: CRBP). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Corbus and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 28, 2019, an article entitled "Corbus Has Ties to Suspect Investors And A History of Failed Clinical Trials for Lenabasum" was published on the website Seeking Alpha. The article expressed the belief that lenabasum, Corbus's lead product candidate, "has failed every trial," "has a history of negative clinical data," and "is likely to fail in the company's pivotal trial in Scleroderma and Systemic Sclerosis (SSc) and Phase 2b trial in cystic fibrosis." The article further alleged "ties between Corbus . . . and a group of suspect investors that were involved during the company's IPO."
Following the article's publication, Corbus's stock price fell $1.32 per share, or 15.98%, to close at $6.94 per share on February 28, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, 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
SOURCE Pomerantz LLP