NEW YORK, April 18, 2019 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Zogenix, Inc. (“Zogenix” or the “Company”) (Nasdaq: ZGNX) in the United States District Court for the Northern District of California on behalf of those who purchased or acquired the securities of Zogenix between February 6, 2019 through April 8, 2019, inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.
The Complaint alleges Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Zogenix’s New Drug Application (“NDA”) for FINTEPLA contained inadequate non-clinical data and an incorrect version of a clinical dataset; (ii) consequently, Zogenix’s NDA for FINTEPLA was unlikely to gain FDA approval; and (iii) as a result, Zogenix’s public statements were materially false and misleading at all relevant times. On April 8, 2019, after the close of trading, the Company announced that the federal regulator determined that the NDA was not sufficiently complete to permit a substantive review. On this news, the price of Zogenix shares fell sharply lower on April 9, 2019, closing at $39.96, down $10.89 per share.
Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the June 11, 2019 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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