NEW YORK, Aug. 11, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of 3M Company (MMM), Aclaris Therapeutics, Inc. (ACRS), and Curaleaf Holdings, Inc. (Other OTC: CURLF). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
3M Company (MMM)
Lead Plaintiff Deadline: September 27, 2019
Class Period: February 9, 2017 to May 28, 2019
The complaint, filed on July 29, 2019, alleges that during the Class Period defendants made materially false and misleading statements and/or failed to disclose adverse information regarding 3M’s business and operations. Specifically, defendants failed to disclose the extent of the Company’s exposure to legal liability associated with 3M’s most lucrative product offerings: man-made chemicals known as per- and polyfluoroalkyl substances (“PFAS”). While publicly denying that PFAS cause harm to humans and the environment, defendants concealed and misrepresented: (i) 3M’s vast internal evidence dating back decades confirming that PFAS are toxic (which was first publicly revealed in February 2018 by Minnesota’s Attorney General); (ii) 3M’s decades-long history of suppressing negative information and/or damaging data about PFAS; and (iii) 3M’s legal exposure to state, county, and local governments and individuals around the country as a result of its knowledge and intentional concealment of the toxic harm caused by the use of PFAS. These omissions and misrepresentations caused 3M’s stock price to trade at artificially inflated prices of as high as $258 per share during the Class Period.
For more information on the 3M class action go to: https://bespc.com/MMM
Aclaris Therapeutics, Inc. (ACRS)
Lead Plaintiff Deadline: September 30, 2019
Class Period: May 8, 2018 to June 29, 2019
On June 20, 2019, the U.S. Food & Drug Administration (“FDA”) stated that an advertisement for Aclaris’s hydrogen peroxide topical solution, Eskata, “makes false or misleading claims” regarding the product’s risk and efficacy. Specifically, “a direct-to-consumer video of an interview featuring a paid Aclaris spokesperson” was “especially concerning from a public health perspective because it fails to include information regarding the serious risks associated with Eskata, which bears warnings and precautions related to the risks of serious eye disorders . . . in the case of exposure to the eye and severe skin reactions including scarring.”
On this news, Aclaris’s stock price fell $0.57, or over 11%, over the next two trading sessions to close at $4.54 on June 21, 2019.
The complaint, filed on July 30, 2019, 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 failed to disclose to investors: (1) that the Company’s advertising materials minimized the risks and overstated the efficacy of ESKATA to generate sales; (2) that, as a result, the Company was reasonably likely to face regulatory scrutiny; and (3) 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.
For more information on the Aclaris class action go to: https://bespc.com/ACRS
Curaleaf Holdings, Inc. (Other OTC: CURLF)
On July 22, 2019, the FDA sent a warning letter to Curaleaf stating that several of the Company’s CBD products sold on the Company’s website were “misbranded drugs” in violation of the Federal Food, Drug, and Cosmetic Act.
On this news, Curaleaf’s stock price fell $0.54, or over 7%, to close at $7.40 per share on July 23, 2019.
The complaint, filed on August 5, 2019, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Curaleaf, on its website and social media pages, marketed its CBD products to be used as drugs and dietary supplements, contrary to law; (2) Curaleaf also sold unapproved animal drugs on its website; (3) such conduct would result in a warning letter from the U.S. Food and Drug Administration (“FDA”); and (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
For more information on the Curaleaf class action go to: https://bespc.com/CURLF
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.