An investigation on behalf of current long term investors in Molecular Partners AG (NASDAQ:MOLN) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 10/26/2022 -- An investigation was announced for current long-term investors in shares of Molecular Partners AG (NASDAQ: MOLN) concerning potential breaches of fiduciary duties by certain directors of Molecular Partners AG.
Investors who are current long term investors in Molecular Partners AG (NASDAQ: MOLN) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: MOLN stocks follows a lawsuit filed against Molecular Partners AG over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: MOLN stocks, concerns whether certain Molecular Partners AG 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 Southern District of New York the plaintiff alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Additionally, The plaintiff alleges that between June 16, 2021 and April 26, 2022 the Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects.
More specifically, the plaintiff claims that the the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (i) ensovibep was less effective at treating COVID-19 than Defendants had led investors to believe; (ii) accordingly, the FDA was reasonably likely to require an additional Phase 3 study of ensovibep before granting the drug EUA; (iii) waning global rates of COVID-19 significantly reduced the Company's chances of securing EUA for ensovibep; (iv) as a product candidate, MP0310 was less attractive to Amgen than Defendants had led investors to believe; (v) accordingly, there was a significant likelihood that Amgen would return global rights of MP0310 to Molecular Partners; (vi) as a result of all the foregoing, the clinical and commercial prospects of ensovibep and MP0310 were overstated; and (vii) as a result, the Offering Documents and Defendants' public statements between June 16, 2021 and April 26, 2022 were materially false and/or misleading and failed to state information required to be stated therein.
Those who purchased shares of Molecular Partners AG (NASDAQ: MOLN) have certain options and should contact the Shareholders Foundation.
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