LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Menlo Therapeutics Inc. (“Menlo Therapeutics” or “the Company”) (NASDAQ: MNLO) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Menlo disclosed on April 9, 2018, that its Phase 2 clinical trial of serlopitant did not meet its primary or secondary efficacy endpoint. The clinical trial showed no statistically significant difference between patients who received the treatment and those that received a placebo. Based on this fact, Menlo’s stock fell more than 76% on April 9, 2018.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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