NEW YORK, NY / ACCESSWIRE / December 1, 2016 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a securities class action has been filed against Cempra Inc. ("Cempra" or the "Company") (NASDAQ: CEMP) and certain of its officers. This class action is on behalf of a class consisting of all persons who purchased Cempra between May 1, 2016 and November 1, 2016, both dates inclusive (the "Class Period").
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 "Exchange Act").
On November 2, 2016, the U.S. Food and Drug Administration reported its preliminary review of Cempra's drug, solithromycin, to treat community-acquired bacterial pneumonia and specified a significant safety signal for hepatotoxicity. Following this news, Cempra stock dropped $9.71 per share or over 58% to $6.95 on November 2, 2016.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) one of Cempra's lead product candidates, solithromycin, posed significant safety risks for hepatotoxicity; and (2) consequently, Cempra's public statements were materially false and misleading at all relevant times.
No Class has yet been certified in the above action. To discuss this action, or for any questions, please visit the firm's site: http://www.bgandg.com/cemp, or contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484, or via email info@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Cempra, you have until January 3, 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.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
ReleaseID: 448503
