NEW YORK, June 13, 2018 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Flex Pharma, Inc. ("Flex" or the "Company") (NASDAQ: FLKS). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Flex and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On June 13, 2018, Flex announced that it plans to halt two ongoing Phase 2 clinical trials for FLX-787, the Company's treatment for amyotrophic lateral sclerosis, citing oral tolerability concerns observed in both studies. Flex further announced that the Company will restructure its organization to reduce costs, including reducing its workforce by approximately 60%, and that Flex's Board is exploring "strategic alternatives, including the potential sale or merger of the company." On this news, Flex's share price fell sharply during intraday trading on June 13, 2018.
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
888-476-6529 ext. 9980
SOURCE Pomerantz LLP