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SAN DIEGO & VANCOUVER, Canada–(BUSINESS WIRE)–$CORV #ClassAction–Shareholder rights law firm Robbins LLP announces that a purchaser of Correvio Pharma Corp. (NASDAQ: CORV) filed a class action complaint for alleged violations of the Securities Exchange Act of 1934 between October 23, 2018 and December 5, 2019. Correvio is a specialty pharmaceutical company that engages in developing therapeutics worldwide. The Company’s brand portfolio includes Brinavess, used for the rapid conversion of recent onset atrial fibrillation (“AF”) to sinus rhythm.

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Correvio Pharma Corp. (CORV) Accused of Misleading Shareholders

According to the complaint, during Correvio’s development of Brinavess, safety concerns led the U.S. Food and Drug Administration (“FDA”) to decline approval for Brinavess and mandate a clinical hold on the Brinavess program following the death of a patient who had been administered the drug during one of its clinical trials. Then, in October 2018, Correvio announced its intention to resubmit a New Drug Application (“NDA”) to the FDA for recent onset AF supported by additional purported safety data that the Company had accumulated. On July 25, 2019, Correvio announced that the FDA had accepted the resubmitted NDA. Contrary to Correvio’s representations, on December 6, 2019, the FDA announced that it did not believe the drug’s benefits outweighed its risks, specifically highlighting “serious liabilities” associated with Brinavess, including even death. Consequently, on December 10, 2019, the FDA voted against approval of the NDA. On this news, Correvio shares fell 67% to close at $0.46 per share. The stock continues to decline.

Correvio Pharma Corp. (CORV) Shareholders Have Legal Options

Contact us to learn more:

Leo Kandinov

(800) 350-6003
Shareholder Information Form

Robbins 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.

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Leo Kandinov

Robbins LLP

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