INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Veru Inc. (VERU) Investors

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 Veru Inc. (“Veru” or the “Company”) (NASDAQ: VERU) common stock between May 11, 2022 and November 9, 2022, inclusive (the “Class Period”). Veru investors have until February 6, 2023 to file a lead plaintiff motion.

Investors suffering losses on their Veru 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 [e-mail].

On November 9, 2022, the Pulmonary-Allergy Drugs Advisory Committee of the FDA voted against Veru’s Emergency Use Authorization (“EUA”) for its COVID-19 treatment, sabizabulin, explaining that there was “no direct evidence to support [sabizabulin’s] antiviral activity.”

On this news, Veru’s stock price fell $8.04, or 53.6%, to close at $6.97 per share on November 10, 2022, thereby injuring investors.

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: (1) misled its shareholders to believe that the data from the Phase 3 trial was sufficient to support EUA and even the submission of a New Drug Application without any further studies; (2) concealed the true risks faced by the Company in gaining approval for its EUA request; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased Veru common stock, 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 [phone], toll-free at [phone], or by email to [e-mail], or visit our website at www.howardsmithlaw.com.

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