SAN DIEGO–(BUSINESS WIRE)–$HRTX #ClassAction–Shareholder rights law firm Robbins
Arroyo LLP announces that a purchaser of Heron Therapeutics, Inc.
(NASDAQ: HRTX) filed a class action complaint for alleged violations of
the Securities Exchange Act of 1934 between October 31, 2018 and April
30, 2019. Heron Therapeutics is a biotechnology company that develops
treatments to address unmet medical needs. HTX-011 is one of the drugs
Heron is developing.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/heron-therapeutics-inc/
Heron Therapeutics Accused of Misleading Investors
According to the complaint, in October 2018, Heron announced the
submission of its New Drug Application (“NDA”) for HTX-011 to the U.S.
Food and Drug Administration (“FDA”) for post-operative pain management.
It touted the data it used to support the filing. Heron’s CEO went
further by promoting Heron’s prior experience with filing NDAs, as well
as its close working relationship with the FDA. However, Heron failed to
disclose that the HTX-011 NDA did not contain adequate information. In
May 2019, Heron revealed that HTX-011 had failed to gain FDA approval
because it lacked sufficient information. Specifically, the FDA denied
HTX-011’s NDA purely based on Heron’s failure to include the requisite
CMC and non-clinical information. On this news, Heron’s stock price fell
over 18% to close at $17.75 per share on May 1, 2019, and has yet to
recover.
Heron Therapeutics Shareholders Have Legal Options
Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leo Kandinov at (800)
350-6003, [email protected]
or via the shareholder
information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
Contacts
Leo Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San
Diego, CA 92122
[email protected]
(619)
525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
