Bronstein, Gewirtz & Grossman, LLC Notifies Molecular Partners AG (MOLN) Investors of Class Action and Encourages Investors to Contact the Firm
NEW YORK, July 15, 2022 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Molecular Partners AG ("Molecular Partners" or the "Company") (NASDAQ: MOLN) and certain of its officers, on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired: (a) Molecular Partners American Depositary Shares ("ADSs") pursuant and/or traceable to the Offering Documents (defined below) issued in connection with the Company's initial public offering conducted on or about June 16, 2021 (the "IPO"); and/or (b) Molecular Partners securities between June 16, 2021 and April 26, 2022, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/moln.
This class action seeks to recover damages against Defendants for alleged violations of the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act").
The complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Additionally, the complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (1) ensovibep was less effective at treating COVID-19 than Defendants had led investors to believe; (2) accordingly, the FDA was reasonably likely to require an additional Phase 3 study of ensovibep before granting the drug EUA; (3) waning global rates of COVID-19 significantly reduced the Company's chances of securing EUA for ensovibep; (4) as a product candidate, MP0310 was less attractive to Amgen than Defendants had led investors to believe; (5) accordingly, there was a significant likelihood that Amgen would return global rights of MP0310 to Molecular Partners; (6) as a result of all the foregoing, the clinical and commercial prospects of ensovibep and MP0310 were overstated; and (7) as a result, the Offering Documents and Defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/moln or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Molecular Partners you have until September 12, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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