NEW YORK--(BUSINESS WIRE)--The Klein Law Firm announces the commencement of an investigation of Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) concerning possible violations of federal securities laws.
On September 5, 2017, Synergy issued a press release announcing it had closed on a “non-dilutive” $300 million loan from CRG Partners III L.P., which would be available to Synergy “when needed” and fund the Company’s operations through 2019. On November 14, 2017, Synergy revealed that terms of the loan agreement, omitted from prior statements regarding the loan, prevented it from accessing $200 million of the loan without conducting a dilutive secondary offering or offerings of shares to raise cash and, as such, the Company was conducting a secondary offering of its shares.
If you suffered a loss in Synergy and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kkclasslaw.com/SGYP-Info-Request-Form-263.
Joseph Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.