WAYNE, Pa., Oct. 23, 2015 /PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities that purchased the common stock of Zafgen, Inc. ("Zafgen" or the "Company") (NASDAQ: ZFGN) between January 12, 2015 and October 16, 2015, inclusive (the "Class Period").
Zafgen shareholders may, no later than December 21, 2015, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Zafgen and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/zfgn.
The Complaint alleges that during the Class Period, defendants issued materially false and misleading public statements, and/or failed to disclose material information concerning adverse thrombotic events experienced by patients in the Company's clinical trials of its primary new drug product, beloranib. Specifically, the Complaint alleges that defendants failed to disclose that one participant in the beloranib Phase 3 study, who had died, was receiving beloranib and not a placebo. In addition, the Complaint alleges that while Zafgen had reported 2 thrombotic events in prior clinical studies, there had actually been 4 such events, as well as 2 additional thrombotic events in other ongoing studies.
The Complaint further alleges that on October 15, 2015, the Food and Drug Administration placed a partial clinical hold on beloranib. On that news, the price of the Company's common stock fell to a close of $10.36 per share on October 16, 2015, from a close of $21.02 per share on the previous day.
If you are a member of the class, you may, no later than December 21, 2015, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. To learn more about the class action process, please visit: www.rmclasslaw.com.
CONTACT: Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
995 Old Eagle School Rd., Suite 311
Wayne, PA 19087
484-588-5516
877-316-3218
www.rmclasslaw.com/cases/zfgn
[email protected]
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SOURCE Ryan & Maniskas, LLP
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