SAN DIEGO & DEVON, Pa.–(BUSINESS WIRE)–$ZYNE #ClassAction–Shareholder rights law firm Robbins Arroyo LLP announces that a purchaser of Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE) filed a class action complaint for alleged violations of the Securities Exchange Act of 1934 between March 11, 2019 and September 17, 2019. Zynerba Pharmaceuticals operates as a clinical stage specialty pharmaceutical company. Zygel is the Company’s transdermal cannabinoid (“CBD”) gel.
If you suffered a loss as a result of Zynerba’s misconduct, click here.
Zynerba Pharmaceuticals, Inc. (ZYNE) Accused of Misleading Shareholders
According to the complaint, in April 2018, Zynerba began Phase 2 of its BELIEVE 1 Trial designed to evaluate the efficacy and safety of Zygel in children and adolescents with developmental and epileptic encephalopathies (“DEE”). On March 11, 2019, Zynerba filed its Annual Report on Form 10-K with the SEC, which reported no adverse events in patients and touted Zygel’s ability to treat patients suffering from DDE due to the “anticonvulsant effects of CBD…shown in multiple in vivo models of epilepsy and clinical trials conducted by third parties.” These representations were then reiterated in a June 2019 investor presentation and in later quarterly reports filed with the SEC. Despite no disclosure of distinct risks or issues with Zygel in these reports, on September 18, 2019, Zynerba issued a press release revealing that 96% of Zygel’s patients experienced a treatment emergent adverse event (“TEAE”), 60% of patients experienced a treatment related adverse event (“TRAE”), and 10 patients reported a serious adverse event (“SAE”). On this news, Zynerba’s stock price fell $2.46, or almost 22%, to close at $8.84 per share and has yet to recover.
Zynerba Pharmaceuticals, Inc. (ZYNE) Shareholders Have Legal Options
Contact us to learn more:
Leo Kandinov
(800) 350-6003
[email protected]
Shareholder Information Form
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. Click Here to receive free alerts from Stock Watch when companies engage in wrongdoing.
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
