LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Alcobra Ltd. (“Alcobra” or the “Company”) (Nasdaq: ADHD). Investors who purchased or otherwise acquired shares between August 13, 2015 and January 17, 2017 inclusive (the “Class Period”), are encouraged to contact the firm in advance of the April 18, 2017 lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate. In addition, we encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during Class Period, Alcobra made false and/or misleading statements and/or failed to disclose that: the results of Alcobra’s first Phase III study in October 2014 revealed no statistically significant benefit derived from its primary drug candidate in development, metadoxine extended release (“MDX”); that given that the composition of MDX was unaltered from the first Phase III study, there was no basis to expect results of the second trial to be any different; that removing extreme placebo response patients from the analysis of the second Phase III trial did not boost the MDX trial results as Alcobra anticipated; and that Alcobra attributed all improvements in subjects taking MDX in the second Phase III trial to the effects of the drug, while disregarding any spontaneous improvements by placebo patients. On January 17, 2017, Alcobra revealed that MDX was unsuccessful in reaching its primary endpoint during a Phase 3 trial. When this news was released to the public, the stock price of Alcobra fell, causing investors harm.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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