NEW YORK, Aug. 16, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Acer Therapeutics Inc. (ACER) from September 25, 2017 through June 24, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Acer investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than August 30, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to obtain a recovery is not dependent upon being a lead plaintiff. If you wish to join the http://zhanginvestorlaw.com/join-action-form/?slug=acer-therapeutics-inc&id=1929 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email email@example.com, firstname.lastname@example.org for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Acer lacked sufficient data to support filing EDSIVO’s New Drug Application (“NDA”) with the FDA for the treatment of vEDS; (ii) the Ong Trial, a 2004 study Acer heavily relied on its submission of EDSIVO’s NDA, was an inadequate and ill-controlled clinical study by FDA standards, and was comprised of an insufficiently small group size to support EDSIVO’s NDA; (iii) consequently, the FDA would likely reject EDSIVO’s NDA; and (iv) as a result, defendants’ statements about Acer’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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