NEW YORK, April 12, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information in its filings with the U.S. Securities and Exchange Commission in connection with its IPO.
On October 25, 2018, the Company shocked its investors and the market by revealing that: (i) TRULANCE had substantially disappointed and that its launch and integration into the marketplace was not as successful as represented; (ii) as a result, the Company faced substantial risk that it would not be able to satisfy the minimum revenue, market capitalization and liquidity requirements in the CRG Loan; (iii) Synergy’s efforts to renegotiate the terms of the CRG Loan had proven unsuccessful; and (iv) the strategic review process had failed to yield a “white knight” or financing alternative and was unlikely to do so prior to default on the Company’s covenants to CRG. Following this news, Synergy’s stock price fell $0.97 per share, or 69.3%, to close at $0.43 per share on October 26, 2018.
The Complaint alleges that throughout the Class Period, Defendants failed to disclose material information. Specifically, the complaint alleges that Defendants misrepresented the quality and nature of Maiden’s underwriting and risk management policies and practices and the risks of its reinsurance portfolio.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org