NEW YORK, March 21, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed against Corbus Pharmaceuticals Holdings, Inc. (“Corbus” or the “Company”) (Nasdaq: CRBP) in the United States District Court for the District of Massachusetts on behalf of those who purchased or acquired the securities of Corbus between November 14, 2016 and February 28, 2019, inclusive (the “Class Period”).
Investors who purchased shares of Corbus Pharmaceuticals Holdings, Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website www.whafh.com.
If you have incurred losses in the shares of Corbus Pharmaceuticals Holdings, Inc., you may, no later than May 13, 2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Corbus Pharmaceuticals Holdings, Inc.
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The filed Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that:
- Corbus improperly changed the primary efficacy endpoint for the clinical study of its drug candidate, Lenabasum, after the results were unblinded to Corbus;
- Corbus reported a one-sided p value, not the traditional two-sided p value normally reported in clinical trials, in an effort to conceal the fact that the study results did not have statistical significance; and
- as a result, Corbus’ public statements were materially false and misleading at all relevant times.
On February 28, 2019, an article entitled “Corbus Has Ties to Suspect Investors And A History of Failed Clinical Trials for Lenabasum” was published on the website Seeking Alpha. The article expressed the belief that lenabasum, Corbus’ lead product candidate, “has failed every trial,” “has a history of negative clinical data,” and “is likely to fail in the company’s pivotal trial in Scleroderma and Systemic Sclerosis (SSc) and Phase 2b trial in cystic fibrosis.” The article further alleged “ties between Corbus . . . and a group of suspect investors that were involved during the company’s IPO.”
Following its publication, Corbus’ stock price fell $1.32 per share, or 15.98%, to close at $6.94 per share on February 28, 2019.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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