LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm and Roche Freedman LLP announced today that they have filed a securities class action lawsuit on behalf of plaintiff Carl D. Cachia against BELLUS Health Inc. (“BELLUS” or “the Company”) (NASDAQ: BLU) and certain of its officers. The class action, filed in the Southern District of New York, captioned Cachia v. BELLUS Health Inc., et. al., and docketed under Case No. 1:21-cv-02278, is on behalf of a class consisting of investors who purchased or otherwise acquired BELLUS securities between September 5, 2019 and July 5, 2020, inclusive (the ''Class Period''). Plaintiff seeks to recover compensable damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder.
If you are a shareholder who purchased BELLUS securities during the Class Period, you have until May 17, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
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.
BELLUS is a clinical-stage biopharmaceutical company whose lead product is BLU-5937, which is being developed for the treatment of chronic cough (one that lasts over eight weeks) and other afferent hypersensitization-related disorders. The Complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose material adverse facts about BELLUS’s business, operations, drug products, drug product development, competition, and present and future business prospects. Specifically, Defendants misrepresented and/or failed to disclose that BLU-5937’s “high selectivity” contributed to the drug potentially being less efficacious and thus likely unable to meet the primary endpoint of the Company’s Phase 2 study. As a result, when Defendants announced before markets opened on July 6, 2020, that BLU-5937 had failed the Phase 2 study, the Company’s stock price plummeted over 75% on heavy trading volume.
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