NEW YORK, Aug. 13, 2020 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Mesoblast Limited ("Mesoblast" or the "Company") (NASDAQ: MESO). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Mesoblast and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 11, 2020, the U.S. Food and Drug Administration ("FDA") released briefing materials for the August 13, 2020 meeting of the FDA's Oncologic Drugs Advisory Committee, at which the FDA will review and discuss Mesoblast's marketing application for Ryoncil (remestemcel-L) for the treatment of steroid-refractory acute graft-versus-host disease in pediatric patients. The FDA briefing documents stated that it is "unclear" whether the study results supporting Mesoblast's application are "relevant" to the proposed indication for use.
On this news, Mesoblast's stock price fell $6.09 per share, or 34.96%, to close at $11.33 per share on August 11, 2020.
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. 7980
SOURCE Pomerantz LLP