NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the District of Massachusetts on behalf of investors who purchased Tetraphase Pharmaceuticals Inc. (NASDAQ:TTPH) securities between March 5, 2015 and September 8, 2015.
Click here to learn about the case: http://docs.wongesq.com/TTPH-Info-Request-Form-1089. There is no cost or obligation to you.
The complaint alleges that Tetraphase and certain insiders issued materially false and misleading statements to investors. In particular, it is alleged that throughout the class period, Tetraphase made positive statements about the efficacy and potential for its drug Eravacycline to achieve approval by the FDA, despite knowledge that a pivotal portion of its IGNITE2 phase 3 clinical trial for Eravacycline would fail to achieve its primary endpoint of statistical non-inferiority compared to the antibiotic Levofloxacin.
On September 8, 2015, the Company announced that the pivotal portion of its IGNITE2 phase 3 clinical trial of Eravacycline did not achieve its primary endpoint. Following this news, shares of Tetraphase fell from a close of $44.78 on September 8, 2015, to a close of $8.36 per share on September 10, 2015—a loss of more than 80% in market value.
If you suffered a loss in Tetraphase you have until March 28, 2016 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 Vincent Wong, Esq. either via email email@example.com, by telephone at 212.425.1140, or visit http://docs.wongesq.com/TTPH-Info-Request-Form-1089.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.