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EQUITY ALERT Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Trevena, Inc. – TRVN

Nachrichtenquelle: Business Wire (engl.)
11.10.2018, 23:45  |  528   |   |   

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Trevena, Inc. (NASDAQ: TRVN) from May 2, 2016 through October 8, 2018, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Trevena investors under the federal securities laws.

To join the Trevena class action, go to https://www.rosenlegal.com/cases-1429.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or zhalper@rosenlegal.com for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Trevena misled its shareholders into believing that its April 28, 2016 End-of-Phase 2 Meeting with the U.S. Food and Drug Administration (“FDA”) for its drug candidate, Oliceridine, was far more successful than it actually was; (2) the FDA did not agree with the proposed dosing in the Phase 3 studies, the proposed primary endpoint, and the proposed non-inferiority margin for comparing morphine to Oliceridine; and (3) as a result, defendants’ public statements were materially false and misleading at all relevant times. On this news, shares of Trevena plummeted $1.91 per share, or over 64%, to close at $1.07 per share on October 9, 2018.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 10, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to https://www.rosenlegal.com/cases-1429.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Zachary Halper, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or zhalper@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.

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