NEW YORK--(BUSINESS WIRE)--Lynda J. Grant, an attorney with over 30 years of experience representing wronged shareholders and consumers and a New York Metro Superlawyer, announces that TheGrantLawFirm, PLLC is investigating potential claims that shareholders of Stemline Therapeutics, Inc. (“Stemline” or the “Company”) (“STML: NASDAQ”), may have been misled by the Company’s failure to disclose material information relating to its drug SL-401 before raising money in a secondary offering.
On January 19, 2017, Stemline announced the proposed public offering of common stock. On January 20, 2017, Stemline announced the pricing of the public offering of 4.5 million shares of its common stock at $10.00 per share, with expected gross proceeds of $45 million. Investors in the offering were not told that on January 18, 2017, the Company had learned that a patient in the Company’s clinical trials for its drug, SL-401, had died from a severe side effect tied to the drug. On the February 2, 2017 disclosure of this news, the shares of Stemline fell significantly and have not yet recovered.
TheGrantLawFirm is presently investigating whether the Company and its directors disseminated materially false and misleading statements in connection with the public offering. If you are a shareholder of Stemline and would like additional information regarding this matter, please contact Lynda J. Grant at 212-292-4441 or firstname.lastname@example.org.