LOS ANGELES--(BUSINESS WIRE)--National law firm Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of persons and/or entities that: a) acquired Tetraphase Pharmaceuticals, Inc. (“Tetraphase” or the “Company”) (NASDAQ: TTPH) securities pursuant and/or traceable to the Company’s allegedly false and/or misleading registration statement and prospectus issued in connection with the Company’s July 2017 secondary public offering (“SPO” or the “Offering”); and/or, b) acquired Tetraphase securities between March 8, 2017 and February 13, 2018, inclusive (the “Class Period”). Plaintiff pursues claims against the Defendants, under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”).
Tetraphase investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action.
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The complaint filed in this class action 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 failed to disclose: (1) Tetraphase was increasing the patient enrollment in its IGNITE3 trial from 1,000 patients to 1,200 patients to meet the trial’s primary endpoints (within the 10% non-inferiority margin); (2) The enrollment of more patients in the trial indicated that the existing population was inadequate to meet the trial’s primary endpoints; and (3) that, as a result of the foregoing, Defendants’ statements about Tetraphase’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
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If you purchased Tetraphase securities in connection with the Offering and/or during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff. 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.
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