SAN FRANCISCO, May 01, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, with 9 offices in 8 cities around the country and 80 attorneys, reminds investors in Zogenix, Inc. (NASDAQ: ZGNX) of the securities class action pending in the United States District Court for the Northern District of California. The complaint, Lake v. Zogenix, Inc. et al., No. 3:19-cv-01975, alleges Federal securities law violations.
If you purchased or otherwise acquired Zogenix securities between February 6, 2019 and April 8, 2019 (the “Class Period”) and suffered losses you do not need to sign up to be included in the putative class of investors. If you suffered losses in excess of $50,000, you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case.
If you wish to serve as a lead plaintiff in this class action, you must move the Court no later than June 11, 2019 (the “Lead Plaintiff deadline”). Contact Hagens Berman immediately for more information about the case and being a lead plaintiff:
https://www.hbsslaw.com/cases/ZGNX
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
According to the complaint, Defendants misled investors about Zogenix’s New Drug Application (“NDA”) for FINTEPLA® by misstating and/or concealing information that the NDA (1) contained inadequate non-clinical data and an incorrect version of a clinical dataset, and (2) consequently the NDA was unlikely to gain approval by the U.S. Food & Drug Administration (“FDA”).
When, on April 8, 2019, Defendants announced the FDA determined that the application was not sufficiently complete to permit a substantive review, the price of Zogenix shares fell sharply lower on April 9, 2019.
“We’re focused on investors’ losses, whether Defendants knew that the NDA they submitted on February 5 was not sufficiently complete to permit the FDA to conduct a substantive review, and the extent to which investors may have been misled,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Zogenix should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email ZGNX@hbsslaw.com.
About Hagens Berman
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Contact:
Reed Kathrein, 510-725-3000