NEW YORK, NY / ACCESSWIRE / March 20, 2017 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Stemline Therapeutics, Inc. ("Stemline" or the "Company") (STML) and certain of its officers, on behalf of a class who purchased Stemline securities between January 20, 2017 and February 1, 2017, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/stml.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose that: (1) a patient had died in the BPDCN Trial from capilliary leak syndrome immediately prior to Stemline's stock offering, despite constantly affirming that capillary leak syndrome was a potential side-effect of SL-401; and (2) SL-401's safety profile was not predictable and manageable over increasing treatment duration, drug exposure, and patient experience, as represented by the Defendants.
On January 19, 2017, Stemline announced its proposed public offering of common stock and on the next day, January 20, 2017, Stemline set the pricing of the public offering of 4.5 million shares at $10.00 per share, with projected gross proceeds of $45 million. On February 2, 2017, TheStreet narrated that on January 18, 2017 a cancer patient in a clinical trial died from a severe side effect tied to Stemline's drug SL-401 and this information was not disclosed to investors who bought into Stemline's public offering. Following this news, Stemline stock dropped during intraday trading on February 2, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: http://www.bgandg.com/stml, 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 in Stemline, you have until April 4, 2017 to 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
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SOURCE: Bronstein, Gewirtz & Grossman, LLC