A lawsuit was filed on behalf of investors in Chiasma Inc (NASDAQ:CHMA) shares over alleged securities laws violations and NASDAQ:CHMA investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/14/2016 -- An investor, who purchased NASDAQ:CHMA shares, filed a lawsuit in Massachusetts over alleged violations of Federal Securities Laws by Chiasma Inc.
Investors who purchased shares of Chiasma Inc (NASDAQ:CHMA) have certain options and for certain investors are short and strict deadlines running. Deadline: August 8, 2016. NASDAQ:CHMA investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
In July 2015 Chiasma Inc offered more than 6,300,000 shares of its common stock at $16.00 per share in connection with its initial public stock offering ("IPO").
The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that Chiasma's Phase 3 clinical trial methodology for Mycapssa was not sufficient to demonstrate efficacy and secure FDA approval, that Chiasma's supervision of its suppliers was not sufficient to prevent deficiencies that would delay FDA approval of Mycapssa, and that as a result of the foregoing, Chiasma's public statements were materially false and misleading at all relevant times.
On April 15, 2016, U.S. Food and Drug Administration ("FDA") reported its decision on Chiasma's acromegaly candidate, Mycappsa. The FDA issued a complete response letter and said that the new drug application (NDA) for its treatment of a rare ailment related to the pituitary gland was not ready for approval in its present form.
Shares of Chiasma Inc (NASDAQ:CHMA) declined on April 20, 2016, to as low as $3.53 per share.
Those who purchased shares of Chiasma Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego