SHAREHOLDER ALERT - Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Trevena, Inc. (TRVN) & Lead Plaintiff Deadline: December 10, 2018
NEW YORK, Oct. 12, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed Trevena, Inc. ("Trevena" or the "Company") (NASDAQ: TRVN) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Trevena securities between May 2, 2016 and October 8, 2018, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/trvn.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants misled shareholders to believe that the April 28, 2016 End-of-Phase 2 Meeting with the United States Food and Drug Administration ("FDA") was more successful than it really was. On May 2 2016, Trevena published a report, "Trevena Announces Successful End-of-Phase 2 Meeting with FDA and Outlines Phase 3 Program for Oliceridine," and said that it had "reached general agreement" with the FDA on key elements of its Phase 3 program for oliceridine (TRV130) and was "very pleased" with the FDA discussions and outcome. However, on October 9, 2018, information from the Company and the FDA's April 28, 2016 meeting were released and showed that the FDA: (1) "did not agree with the proposed dosing in the Phase 3 studies"; (2) "did not agree with the proposed primary endpoint"; and (3) "did not agree with the proposed non-inferiority (NI) margin for comparing morphine to oliceridine." Following this news, Trevena stock dropped $2.04 per share, or over 68%, over the next two trading days to close at $0.947 per share on October 10, 2018.
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/trvn or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Trevena you have until December 10, 2018 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 is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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