Robbins Geller Rudman & Dowd LLP Updates Investors in the Minerva Neurosciences, Inc. Class Action Lawsuit Regarding Lead Plaintiff Motion Deadline
Robbins Geller Rudman & Dowd LLP announces that purchasers of Minerva Neurosciences, Inc. (NASDAQ:NERV) common stock between May 15, 2017 and November 30, 2020, inclusive (the “Class Period”), have until February 8, 2021 to seek appointment as lead plaintiff in the Minerva class action lawsuit, McCoy v. Minerva Neurosciences, Inc., No. 20-cv-12176 (D. Mass.), which is assigned to Judge George A. O’Toole, Jr. The Minerva class action lawsuit charges Minerva and its Chief Executive Officer with violations of the Securities Exchange Act of 1934.
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Minerva common stock during the Class Period to seek appointment as lead plaintiff in the Minerva class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Minerva class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Minerva class action lawsuit. An investor’s ability to share in any potential future recovery of the Minerva class action lawsuit is not dependent upon serving as lead plaintiff. If you wish to serve as lead plaintiff of the Minerva class action lawsuit or have questions concerning your rights regarding the Minerva class action lawsuit, please provide your information here or contact counsel, J.C. Sanchez of Robbins Geller, at 800/449-4900 or 619/231-1058 or via e-mail at email@example.com. Lead plaintiff motions for the Minerva class action lawsuit must be filed with the court no later than February 8, 2021.
Minerva is a clinical-stage biopharmaceutical company focused on the development and commercialization of a portfolio of product candidates to treat patients suffering from central nervous system diseases. Minerva’s lead product candidate, roluperidone (MIN-101), is in development for the treatment of negative symptoms in patients with schizophrenia. In October 2016, Minerva reported positive results from a Phase 2b trial of roluperidone for this treatment, asserting that the “[d]ata show continuous improvement in negative symptoms, stable positive symptoms and extended safety profile.” Thereafter, on May 15, 2017, Minerva announced that it would proceed to a Phase 3 clinical trial for roluperidone following a successful “end-of-Phase 2” meeting with the U.S. Food and Drug Administration (“FDA”). In doing so, Minerva’s Chief Executive Officer, defendant Rémy Luthringer, stated that “[o]ur discussion with the [FDA] has helped to confirm our Phase 3 trial design, which is similar to our previous Phase 2b trial design. We believe that positive data from the Phase 3 trial, along with the positive data from the Phase 2b trial, may form the basis for the future submission of a New Drug Application [NDA] for [roluperidone] with the FDA.”