LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors that purchased Tesaro Incorporated (“Tesaro” or the “Company”) (NASDAQ: TSRO) securities between March 14, 2016 and January 12, 2018, inclusive (the “Class Period”). Tesaro investors have until March 19, 2018 to file a lead plaintiff motion. To obtain information or actively participate in the class action, please visit the Tesaro page on our website at www.glancylaw.com/case/tesaro-inc.
Investors suffering losses on their Tesaro investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to email@example.com.
On January 12, 2018, Tesaro announced that it updated the U.S. labeling for Varubi (rolapitant), for the prevention of delayed nausea and vomiting associated with chemotherapy, after receiving reports of anaphylaxis, anaphylactic shock and other serious hypersensitivity reactions in the postmarketing setting, some requiring hospitalization. The Company further disclosed that it “has issued a Dear Healthcare Professional (DHCP) letter.” On this news, shares of Tesaro fell $9.80 or 13.7%, to close at $61.86 on January 17, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) substantial undisclosed health risks, including anaphylaxis and anaphylactic shock, were associated with Tesaro's intravenous formulation of Varubi; and (ii) as a result of the foregoing, Tesaro's shares traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased shares of Tesaro during the Class Period you may move the Court no later than March 19, 2018 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.