NEW YORK, Aug. 07, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all investors that purchased or otherwise acquired Aclaris Therapeutics, Inc. (NASDAQ: ACRS) (“Aclaris” or the“Company”) securities between May 8, 2018 and June 20, 2019, inclusive (the “Class Period”).
Investors who purchased the shares of Aclaris Therapeutics, 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 Aclaris Therapeutics, Inc., you may, no later than September 30, 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 Aclaris Therapeutics, Inc.
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The filed complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors:
- that the Company’s advertising materials minimized the risks and overstated the efficacy of ESKATA to generate sales;
- that, as a result, the Company was reasonably likely to face regulatory scrutiny; and
- that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On June 20, 2019, the U.S. Food & Drug Administration (“FDA”) stated that an advertisement for Aclaris’s hydrogen peroxide topical solution, Eskata, “makes false or misleading claims” regarding the product’s risk and efficacy. Specifically, “a direct-to-consumer video of an interview featuring a paid Aclaris spokesperson” was “especially concerning from a public health perspective because it fails to include information regarding the serious risks associated with Eskata, which bears warnings and precautions related to the risks of serious eye disorders . . . in the case of exposure to the eye and severe skin reactions including scarring.”
On this news, Aclaris’s stock price fell $0.57, or over 11%, over the next two trading sessions to close at $4.54 on June 21, 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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