Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Veru Inc. (VERU)

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming February 6, 2023 deadline to file a lead plaintiff motion in the case 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”).

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 or otherwise acquired Veru common stock during the Class Period, you may move the Court no later than February 6, 2023 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you 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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