Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Seres Therapeutics, Inc. To Contact The Firm Before Lead Plaintiff Deadline
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Seres Therapeutics, Inc. (“Seres” or the “Company”) (NASDAQ:MCRB) of the November 28, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the District of Massachusetts on behalf of all those who purchased Seres stock or options between June 25, 2015 and July 29, 2016 (the “Class Period”). The case, Mazurek v. Seres Therapeutics, Inc. et al, No. 1:16-cv-11943 was filed on September 28, 2016, and has been assigned to Judge Denise J. Casper.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making materially false and misleading positive statements about the potential and efficacy of its lead drug product candidate SER-109.
Specifically, July 29, 2016, the Company announced that SER-109 had failed to reach its primary endpoint of reducing the relative risk of CDI recurrence at up to 8-weeks when compared to a placebo. Based on 8-week data, CDI recurrence occurred in 44 percent of subjects (26 of 59) who received SER-109, compared to percent of subjects (16 of 30) who received placebo. According to the Company, the relative risk of CDI recurrence for the placebo population compared to the SER-109 population was not statistically significant.
After the announcement, Seres’s share price fell from $35.77 per share on July 28, 2016 to a closing price of $9.73 on August 1, 2016 —a $26.04 or a 72.8% drop.
If you invested in Seres stock or options between June 25, 2015 and July 29, 2016 and would like to discuss your legal rights, please fill out the form below. 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 email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Seres’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.
* The submission of this form does not create an attorney-client relationship.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.