NEW YORK, April 15, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Zosano Pharma Corporation ("Zosano" or the "Company") (NASDAQ: ZSAN). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Zosano and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On January 27, 2015, Zosano sold 6.5 million shares of stock at $11.00 per share in its initial public offering (the "IPO"), raising over $71 million in new capital. On April 7, 2016, after news of the alleged failure of the Company's lead osteoporosis drug program to reach commercial viability, Zosano's stock closed at $2.35, a decline of 78.64% since the IPO. On April 14, 2016, Zosano's stock closed at $1.95.
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