NEW YORK, July 26, 2021 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, reminds investors of a securities class action lawsuit against Frequency, Inc. (NASDAQ: FREQ) (“Frequency” or the “Company”) and its Chief Executive Officer, David Lucchino, alleging violations of §§10(b) and 20(a) of the Securities Exchange Act (15 U.S.C. §§78j(b) and 78t(a)) and Rule 10b-5 promulgated thereunder (17 C.F.R. §240.10b-5). If you purchased Frequency common stock between November 16, 2020 and March 22, 2021, inclusive (the “Class Period”), and have suffered a loss, realized or unrealized, you are encouraged to contact Joe Pettigrew for additional information at 844-818-6982 or jpettigrew@scott-scott.com.
Frequency is a pharmaceutical company focused on the development and commercialization of a hearing loss treatment titled “FX-322,” which the Company has long promoted as a potential treatment for patients with severe sensorineural hearing loss (“SNHL”).
The complaint alleges that Frequency and CEO Lucchino misled investors about the Phase 2a study of FX-322.
Before the market opened on March 23, 2021, Frequency disclosed disappointing interim results of the Phase 2a study, revealing that subjects with mild to moderate SNHL did not demonstrate improvements in hearing measures versus placebo.
On this news, Frequency’s shares fell from $36.29 to $7.99 – a massive decline of 78%.
Lead Plaintiff Deadline
The Lead Plaintiff deadline in this action is August 2, 2021. Any member of the proposed Class may seek to serve as Lead Plaintiff through counsel of their choice or may choose to do nothing and remain a member of the proposed Class.
What You Can Do
If you purchased Frequency common stock between November 16, 2020 and March 22, 2021, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Joe Pettigrew at 844-818-6982 or jpettigrew@scott-scott.com.
About Scott+Scott
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, Virginia, and Ohio.
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CONTACT:
Joe Pettigrew
Scott+Scott Attorneys at Law LLP
230 Park Avenue, 17th Floor, New York, NY 10169
844-818-6982
jpettigrew@scott-scott.com