LOS ANGELES--(BUSINESS WIRE)--
Glancy Prongay & Murray LLP (“GPMâ€), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that acquired Corbus Pharmaceuticals Holdings, Inc. (“Corbus†or the “Companyâ€) (NASDAQ: CRBP) securities November 14, 2016 and February 28, 2019, inclusive (the “Class Periodâ€). Corbus investors have until May 13, 2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected], or visit our website at www.glancylaw.com.
On February 28, 2019, an article was published on Seeking Alpha alleging that Corbus “has ties to investors convicted of or alleged to have committed securities fraud†and that its drug candidate, lenabasum, is believed to have “failed its major trials in [systemic sclerosis] and [cystic fibrosis].†On this news, shares of Corbus fell $1.32 per share or nearly 16% to close at $6.94 per share on February 28, 2019, thereby injuring investors.
The Complaint in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed 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.
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If you purchased shares of Corbus during the Class Period you may move the Court no later than May 13, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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