An investigation on behalf of current long term investors in Seres Therapeutics Inc (NASDAQ:MCRB) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:MCRB stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/24/2016 -- An investigation on behalf of current long-term investors in shares of Seres Therapeutics Inc (NASDAQ:MCRB) concerning potential breaches of fiduciary duties by certain directors and officers of Seres Therapeutics was announced.
Investors who are current long term investors in Seres Therapeutics Inc (NASDAQ:MCRB) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm for current long term investors in NASDAQ:MCRB stocks follows a lawsuit filed recently against Seres Therapeutics over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:MCRB stocks, concerns whether certain Seres Therapeutics directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the District of Massachusetts the plaintiff alleges that the defendants made certain materially false and misleading positive statements about the potential and efficacy of its lead drug product candidate SER-109. In particular, the plaintiff alleges that Seres Therapeutics Inc touted the drug, calling it one among a "novel class of biological drugs" and a potential "first-in-field drug" despite knowledge that the Phase 2 clinical trial of SER-109 would fail to achieve its primary endpoint as compared to placebo.
On July 29, 2016, Seres Therapeutics Inc disclosed that its Phase 2 clinical study for ECOSPOR™ did not meet its primary endpoint of reducing the relative risk of Clostridium difficle infection recurrence. Shares of Seres Therapeutics Inc (NASDAQ:MCRB) declined on July 29, 2016 to as low as $8.05 per share.
Those who purchased shares of Seres Therapeutics Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com