A lawsuit was filed on behalf of investors in Cempra Inc (NASDAQ:CEMP) shares over alleged securities laws violations and NASDAQ:CEMP investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/08/2016 -- The Shareholders Foundation announced that an investor, who purchased shares of Cempra Inc (NASDAQ:CEMP), filed a lawsuit in North Carolina over alleged violations of Federal Securities Laws by Cempra.
Investors who purchased shares of Cempra Inc (NASDAQ:CEMP) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff alleges on behalf of purchasers of Cempra Inc (NASDAQ:CEMP) common shares between May 1, 2016 and November 1, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 1, 2016 and November 1, 2016 Defendants made false and/or misleading statements and/or failed to disclose that: (i) solithromycin posed significant safety risks for hepatotoxicity; and (ii) as a result of the foregoing, Cempra' public statements were materially false and misleading at all relevant times.
Chapel Hill, NC based Cempra, Inc. is a clinical-stage pharmaceutical company that is focused on developing differentiated antibiotics for the acute care and community settings to meet medical needs in the treatment of bacterial infectious diseases, particularly respiratory tract infections and chronic staphylococcal infections. Cempra Inc reported that its annual Total Revenue rose from $15.22 million in 2014 to $27.31 million in 2015 and that its Net Loss increased from $61.65 million in 2014 to $91.11 million in 2015.
On November 2, 2016, the U.S. Food and Drug Administration ("FDA") posted a preliminary review on its website of Cempra's drug, solithromycin, to treat community-acquired bacterial pneumonia highlighting a significant safety signal for hepatotoxicity.
On November 4, 2016, Cempra announced that NASDAQ has halted trading of the Company's common stock. Cempra also announced that the FDA Antimicrobial Drugs Advisory Committee would meet that day to discuss the safety and efficacy of solithromycin to treat community-acquired bacterial pneumonia.
Shares of Cempra Inc (NASDAQ:CEMP) dropped from $24.48 per share on October 24, 2016 to as low as $6.62 per share on November 7, 2016.
Those who purchased shares of Cempra Inc (have certain options and should contact the Shareholders Foundation.