NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces that a class action lawsuit has been commenced in the USDC for the Northern District of California on behalf of investors who purchased or otherwise acquired AcelRx Pharmaceuticals, Inc. (“AcelRx” or the “Company”) (Nasdaq:ACRX) common stock and/or call options, or sold/wrote AcelRX’s put options between December 2, 2013 and September 25, 2014.
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The Complaint alleges that defendants made false and/or misleading statements and/or failed to disclose during the Class Period: (1) that the Instructions for Use (IFU) for Zalviso were not designed to adequately address the risk of the inadvertent misplacement of tablets; and (2) that the Company had not submitted to the FDA sufficient data to support the shelf life of the product.
On July 25, 2014, AcelRx announced that it had received a Complete Response Letter from the FDA regarding its New Drug Application for Zalviso. Then on September 26, 2014, AcelRx revealed that the resubmission process for its Zalviso NDA would not be complete until the first quarter of 2015 at the earliest. On this news, shares of AcelRx declined over 19%, to close on September 26, 2014 at $5.41 per share, on unusually heavy volume.
If you suffered a loss in AcelRx you have until December 1, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/acelrx-pharmaceuticals-acrx.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s 28 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.