KEMPHARM NOTIFICATION: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Significant Losses Investing In KemPharm, Inc. To Contact The Firm
NEW YORK, Jan. 20, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in KemPharm, Inc. ("KemPharm" or the "Company") (NASDAQ: KMPH) of the federal securities class action lawsuit filed against the Company and certain officers and directors and underwriters of the Company's April 16, 2015 Initial Public Offering (the "IPO") to seek the role of lead plaintiff.
The lawsuit has been filed in the Iowa District Court for Johnson County on behalf of all those who acquired KemPharm shares pursuant or traceable to the Company's IPO. The case, Christians v. KemPharm, Inc., et al., No. CVCV078476, was filed on November 4, 2016. It was removed to the Southern District of Iowa on January 12, 2017, where it was docketed at No. 3:17-cv-00002-RP-HCA, and has been assigned to Senior District Judge Robert W. Pratt.
The lawsuit focuses on whether the defendants violated federal securities laws by making false and/or misleading statements and/or failing to disclose in its Registration Statement filed in connection with the IPO that: (1) KemPharm constructed a deficient study in connection with its most advanced drug candidate's, Apadaz, abuse-deterrent properties; and (2) as a result, Apadaz would not be labeled as an "abuse-deterrent" product by the Federal Drug Administration (the "FDA").
Specifically, after the market closed on May 5, 2016, the Company announced that the Anesthetic and Analgesic Drug Products Advisory Committee and the Drug Safety and Risk Management Advisory Committee of the FDA had reviewed and voted against inclusion of abuse deterrent labeling for Apadaz.
On this news, KemPharm's share price fell from $15.67 per share on May 5, 2016 to a closing price of $6.91 on May 6, 2016 —a $8.76 or a 55.9% drop.
Request more information now by clicking here: www.faruqilaw.com/KMPH. There is no cost or obligation to you.
Take Action
If you invested in KemPharm stock and would like to discuss your legal rights, visit www.faruqilaw.com/KMPH. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding KemPharm's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
[email protected]
Telephone: (877) 247-4292 or (212) 983-9330
SOURCE Faruqi & Faruqi, LLP
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