NEW YORK, Jan. 22, 2019 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Lexicon Pharmaceuticals, Inc. ("Lexicon" or the "Company") (NASDAQ: LXRX). Investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Lexicon and certain of its officers and/or directors have violated the federal securities laws.
On January 17, 2019, Lexicon announced that the Endocrinologic and Metabolic Drugs Advisory Committee of the U.S. Food and Drug Administration had "voted eight to eight on the question of whether the overall benefits of [Lexicon's product] Zynquista (sotagliflozin) outweighed the risks to support approval."
On news of the advisory committee's stalemate, Lexicon's stock price fell $1.74 per share, or 22.6%, to close at $5.96 per share on January 18, 2019.
The Pomerantz Firm, with offices in New York, Chicago, 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