NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announced today that a class action lawsuit has been filed in the United States District Court for the Southern District of New York against Stemline Therapeutics, Inc. (“Stemline” or the “Company”) (NASDAQ:STML) on behalf of investors that acquired Stemline securities: (1) pursuant and/or traceable to Stemline’s secondary public offering on January 20, 2017; and/or (2) on the open market during the period from January 19, 2017 through February 1, 2017 (the “Class Period”) seeking recovery of damages for alleged violations of the federal securities laws. Pursuant to applicable law, investors have until April 4, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Stemline is a clinical stage biopharmaceutical company that focuses on proprietary oncology therapeutics.
The lawsuit alleges that on February 2, 2017, TheStreet.com reported that on January 18, 2017, one day prior to Stemline’s Offering, a cancer patient in a Stemline clinical trial tied to SL-401 died from a severe side effect. Also on February 2, 2017, Stemline issued a press release entitled “Stemline Therapeutics Provides Update on Pivotal BPDCN Trial,” confirming the death reported by TheStreet.com.
On this news, shares of Stemline fell from $9.75 to $5.60 per share on February 2, 2017 (a decline of $4.15).
If you acquired Stemline Therapeutics securities during the Class Period and are interested in learning more about this matter and any rights you might have with respect to these claims, please contact Wendy Li at firstname.lastname@example.org, or by telephone at (212) 371-6600. You can also find information about this matter on the firm’s website at www.kmllp.com. Please bear in mind that some of these rights may be time-sensitive.
Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, whistleblower, antitrust and consumer litigation. The firm has specialized in complex litigation, including securities class actions, for several decades, and has been recognized by various courts that have appointed the firm to major positions in consolidated and multi-district litigation. Kirby McInerney’s efforts on behalf of shareholders have resulted in recoveries totaling billions of dollars, and the firm's achievements and quality of service have been chronicled in numerous published decisions. Additional information about the firm or the claims against Stemline Therapeutics, Inc. can be found at Kirby McInerney LLP's website: www.kmllp.com.