NEW YORK, April 18, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Chiasma, Inc. ("Chiasma" or the "Company") (NASDAQ: CHMA). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Chiasma and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On April 18, 2015, pre-market, the Company announced that the Food and Drug Administration ("FDA") issued a Complete Response Letter regarding its New Drug Application for Mycapssa (octreotide) capsules for the maintenance treatment of adult patients with acromegaly, concluding "the application is not ready for approval in its present form."
On this news, Chiasma stock fell $6.42 per share or 63.13%, to close at $3.75 on April 18, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, 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