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Flex Pharma, Inc. (FLKS)

NASDAQ:FLKS

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Flex Pharma, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Flex Pharma, Inc. (“Flex” or the “Company”) (NASDAQ: FLKS) of the August 20, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Flex Pharma, Inc. stock or options between November 6, 2017 and June 12, 2018 and would like to discuss your legal rights, please fill out the form below.  There is no cost or obligation to you. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. 

The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Flex securities between November 6, 2017 and June 12, 2018 (the “Class Period”).  The case, Rumaldo v. Flex Pharma, Inc., No. 18-cv-05493 was filed on June 19, 2018, and has been assigned to Judge Vernon Speede Broderick.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by overstating the viability and approval prospects for its product candidate FLX-787 for the treatment of ALS and CMT.

Specifically, on June 13, 2018, the Company announced that it had plans to halt two ongoing Phase 2 clinical trials for FLX-787, the Company's treatment for amyotrophic lateral sclerosis, citing oral tolerability concerns observed in both studies. Flex further announced that the Company would restructure its organization to reduce costs, including reducing its workforce by approximately 60%, and that Flex's Board was exploring "strategic alternatives, including the potential sale or merger of the company."

On this news, Flex’s share price fell from $4.18 at close on June 12, 2018 to $1.04 on June 13, 2018—a $3.14 or 75.12% drop, causing harm to investors.

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  • Case:
    Flex Pharma, Inc. (FLKS)
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Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 06/20/2018

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