ZLAB NEWS: The Klein Law Firm Initiates an Investigation Involving Possible Securities Fraud Violations by Officers of Zai Lab Limited

NEW YORK, June 20, 2023 /PRNewswire/ -- The Klein Law Firm announces that it is investigating allegations that Zai Lab Limited ("Zai Lab") (NASDAQ: ZLAB) violated federal securities laws.

CURRENT INVESTIGATION DETAILS:On March 9, 2022, the U.S. Securities and Exchange Commission ("SEC") published a notification identifying Zai Lab, among other companies, as in potential violation of the Holding Foreign Companies Accountable Act, which allows the SEC to delist companies and ban a company's shares from being traded if the company fails to allow U.S. regulators to review their company audits for three straight years. Zai Lab and the other companies named in the SEC notification have until March 29, 2022 to challenge the charges against them.  On this news, Zai Lab's stock price fell $6.74 per share, or 18%, to close at $30.02 per share on March 10, 2022.  On June 6, 2023, Zai Lab reported phase 3 trials for an oncology therapy it is developing with NovoCure. It said that its tumor treating fields (TTFields) therapy, which uses skin patches to deliver electric fields to areas of the body, when used with standard therapies, met its primary endpoint of three-month improvement in median overall survival time in metastatic non-small cell lung cancer (NSCLC) patients. However the study was unreliable because many of the study participants didn't use an initial checkpoint inhibitor, which is seen as the leading way to treat NSCLC, thereby allowing for the possibility that the study was highly skewed by comparing TTFields to a lesser therapy.  On this news, Zai Lab's stock fell $4.88 per share, or 14.55%, on unusually high trading volume, to close at $28.66 per share on June 7, 2023.

HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the potential claims on behalf of ZLAB investors, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/zai-lab-lawsuit-loss-submission-form?id=41020&from=4.

ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
[email protected]
Telephone: (212) 616-4899
www.kleinstocklaw.com

SOURCE The Klein Law Firm

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