Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 Investing In Corbus Pharmaceutical Holdings, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Corbus Pharmaceutical Holdings, Inc. ("Corbus" or the "Company")(NASDAQ: CRBP) of the May 13, 2019 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 Corbus stock or options between November 14, 2016 and February 28, 2019 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 email@example.com.
The lawsuit has been filed in the U.S. District Court for the District Court of Massachusetts on behalf of all those who purchased Corbus securities between November 14, 2016 and February 28, 2019 (the "Class Period"). The case, Kempf v. Corbus Pharmaceutical Holdings, Inc et al, No. 19-cv-10457 was filed on March 12, 2019.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) Corbus improperly changed the primary efficacy endpoint for the clinical study of its drug candidate, Lenabasum, after the results were unblinded to Corbus; (2) 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 (3) as a result, Corbus’ public statements were materially false and misleading at all relevant times.
On February 28, 2019, the truth was revealed when an article titled, "Corbus Has Ties to Suspect Investors And A History of Failed Clinical Trails for Lenabasum" (the "Corbus Article") was published on Seeking Alpha. The Corbus article stated in pertinent part: We believe Lenabasum failed every previous clinical trial Lenabasum.
On this news, Corbus's share price fell from $8.26 per share on February 27, 2019 to a closing price of $6.94 on February 28, 2019: a $1.32 or a 15.98% drop.
Corbus Pharmaceutical Holdings, Inc. (CRBP)
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Filed on 03/13/2019
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