NEW YORK, March 19, 2020 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against LogicBio Therapeutics, Inc. (“LogicBio” or the “Company”) (LOGC) in the United States District Court for the District of New Jersey on behalf of those who purchased or acquired the securities of LogicBio between December 3, 2018 and February 10, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for LogicBio investors under the federal securities laws.
The Complaint alleges the Company made false and misleading statements to the market. The Company’s Investigational New Drug (“IND”) submission for LB-001 was rushed and behind schedule, and did not answer important clinical and non-clinical questions. The FDA was likely to either hold or deny the IND due to the poor quality of the submission. Based on these facts, the Company’s public statements were false and materially misleading throughout the Class Period. When the market learned the truth about LogicBio, investors suffered damages.
Investors who purchased or otherwise acquired shares of LogicBio during the Class Period should contact the Firm prior to the May 18, 2020 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at email@example.com or firstname.lastname@example.org.
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