NEW YORK, Nov. 14, 2016 (GLOBE NEWSWIRE) -- Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national investor rights law firm, reminds investors that January 3, 2017 is the last day to file lead plaintiff papers in the securities lawsuit against Cempra, Inc. (“Cempra” or the “Company”) (NASDAQ:CEMP). The class action is on behalf of a class consisting of all persons who purchased or otherwise acquired Cempra securities between May 1, 2016 and November 1, 2016, both dates inclusive (the “Class Period”). Cempra investors are encouraged to go to: http://www.scott-scott.com/cases/new/securities-fraud-litigation-3029-cempra-inc-cemp.html.
Cempra is a clinical-stage pharmaceutical company, focuses on developing antibiotics to meet medical needs in the treatment of bacterial infectious diseases in North America. One of its lead product candidates is solithromycin (CEM-101), which is in Phase III clinical trials for the treatment of community acquired bacterial pneumonia, as well as for uncomplicated bacterial urethritis.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Cempra’s lead product candidate solithromycin posed significant safety risks for hepatotoxicity; and (ii) as a result of the foregoing, Cempra’ public statements were materially false and misleading at all relevant times.
On November 2, 2016, the United States Food and Drug Administration (“FDA”) posted on its website a preliminary review of solithromycin in which it indicated that the drug can lead to an elevation in liver enzyme levels and other potential causes of hepatotoxicity. On this news, Cempra’s share price fell over 60%.
What You Can Do
If you purchased Cempra shares, you may have legal claims against the Company. If you want to discuss filing lead plaintiff papers, or have questions about your legal rights, please contact attorney Joseph Halloran at (646) 582-0121, or at jhalloran@scott-scott.com.
About Scott + Scott, Attorneys at Law, LLP
Scott+Scott has significant experience prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm has offices in New York, London, Connecticut, California, and Ohio. Please visit www.scott-scott.com for more information about the firm.