Zhang Investor Law Announces Securities Class Action Lawsuit Against Acer Therapeutics Inc. – ACER
NEW YORK, July 12, 2019 (GLOBE NEWSWIRE) — Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Acer Therapeutics Inc. (NASDAQ: 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.
To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=acer-therapeutics-inc&id=1929 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email [email protected] for information on the class action.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. 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 (3) 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. Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.Zhang Investor Law P.C.
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