NEW YORK, March 20, 2018 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Proteostasis Therapeutics, Inc. ("Proteostasis" or the "Company") (NASDAQ: PTI). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Proteostasis and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 20, 2018, Kerrisdale Capital Management published a report entitled "Proteostasis Therapeutics, Inc.: Hyped-Up Lung Data? Just a Lot of Hot Air." The report asserted that in the Phase 2 study for the Company's cystic-fibrosis drug, PTI-428, "the placebo group's small size and anomalously bad outcomes misleadingly make the treatment group's unimpressive results look good by comparison." Accordingly, the report concluded that the drug "is ineffective and will likely fail future Phase 3 trials." On this news, Proteostasis's share price has fallen sharply during intraday trading on March 20, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, 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