NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in TherapeuticsMD, Inc. (“TherapeuticsMD” or the “Company”) (NYSEMKT:TXMD) of the June 19, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Southern District of Florida on behalf of all those who purchased TherapeuticsMD stock or options between July 7, 2016 and April 9, 2017 (the “Class Period”). The case, Paoli v. TherapeuticsMD, Inc. et al, No. 17-cv-80473 was filed on April 17, 2017, and has been assigned to Judge Robin L. Rosenberg.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose the Company's New Drug Application (“NDA”) submission U.S. Food and Drug Administration (“FDA”) for TX-004HR a treatment of moderate-to-severe dyspareunia, would be deficient.
Specifically, on April 10, 2017, the Company announced that it had received a letter from the FDA on April 7, 2017 stating that, as part of its ongoing review of the NDA, the FDA had identified deficiencies that preclude discussion of the drug’s labeling and postmarketing requirements/commitments. After the announcement, TherapeuticsMD’s share price fell from $7.70 per share on April 7, 2017 to a closing price of $6.20 on April 10, 2017—a $1.50 or a 19.5% drop.
Request more information now by clicking here: www.faruqilaw.com/TXMD. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
Faruqi & Faruqi, LLP also encourages anyone with information regarding TherapeuticsMD’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
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