BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Cempra, Inc. (“Cempra” or the “Company”) (NASDAQ: CEMP) securities between May 1, 2016 and November 1, 2016, inclusive (the “Class Period”). Cempra investors have until January 3, 2017 to file a lead plaintiff motion.
Investors suffering losses on their Cempra investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) solithromycin posed significant safety risks for hepatotoxicity; and (ii) as a result of the foregoing, Cempra’ public statements were materially false and misleading at all relevant times.
On November 2, 2016, the Company’s shares fell as much as 61%, after FDA briefing documents noted the Company’s Solithera may cause liver injury, and this must be weighed against its efficacy for treatment in treating pneumonia.
If you purchased shares of Cempra during the Class Period you may move the Court no later than January 3, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
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