BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Nabriva Therapeutics plc (“Nabriva” or the “Company”) (NASDAQ: NBRV) securities between November 1, 2018 and April 30, 2019, inclusive (the “Class Period”). Nabriva investors have until July 8, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Nabriva investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On April 30, 2019, the Company revealed that it had received a Complete Response Letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) for its New Drug Application (“NDA”) for CONTEPO™ (fosfomycin) for injection for the treatment of complicated urinary tract infections. According to the CRL, the Company had to address certain “issues related to facility inspections and manufacturing deficiencies at one of Nabriva’s contract manufacturers” before the FDA would approve the NDA.
On this news, the Company’s share price fell $0.82 per share, more than 27%, to close at $2.17 per share on May 1, 2019, thereby injuring investors.
The complaint filed in this class action alleges that the Registration Statements were false and misleading and omitted to state material adverse facts. 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 to investors: (1) that the Company’s manufacturers failed to meet good manufacturing practices; (2) that these manufacturers would be subject to inspections by the FDA in connection with the Company’s NDA; (3) that, as a result of the manufacturing deficiencies, the Company’s NDA for CONTEPO was unlikely to be approved by the FDA; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
If you purchased shares of Nabriva, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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