NEW YORK--(BUSINESS WIRE)--Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), remind investors that they have until August 24, 2015 to file lead plaintiff applications in a securities class action lawsuit against QRx Pharma, Ltd. (“QRx” or “the Company”) (OTCBB: QRXPY, QRXPF). Scott+Scott had filed the first class action in this matter and that case is currently pending in the Southern District of New York as well.
The lawsuit alleges violations of the Securities Exchange Act of 1934 and was filed on behalf of all purchasers of QRx American Depository Receipts (“ADRs”) between January 24, 2011 and April 23, 2014, inclusive (the “Class Period”). If you are a QRx shareholder, you are encouraged to contact Scott+Scott for additional information.
The complaint alleges that QRx issued false and misleading public statements and omitted material facts concerning the commercial prospects for its experiment drug Moxduo. Specifically, the complaint alleges that QRx failed to disclose to investors that it received a “no agreement letter” from the Food and Drug Administration (“FDA”) regarding its Moxduo trials and further misrepresented and concealed other material facts concerning its attempts to get Moxduo approved. Upon the disclosure of an FDA memorandum which denied QRx’s application to get Moxduo approved, the price of QRx ADRs plummeted over 83% on April 23, 2014.
You can view a copy of the complaint filed by Scott+Scott at: http://www.scott-scott.com/cnt/cp/qrx_pharma_complaint.pdf
What You Can Do
If you purchased QRx ADRs during the Class Period, you may move the Court no later than August 24, 2015 to serve as lead plaintiff. Any member of the investor class may move the Court to serve as lead plaintiff through counsel of its choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action or have questions concerning this notice or your rights, please contact Michael Burnett, Esq. at Scott+Scott (firstname.lastname@example.org (800) 404-7770, (860) 537-5537, or visit the Scott+Scott website, http://www.scott-scott.com) for more information. There is no cost or fee to you.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide.