An investigation for investors in Zai Lab Limited (NASDAQ:ZLAB) shares over potential securities laws violations by Zai Lab Limited was announced.
San Diego, CA -- (SBWIRE) -- 07/31/2023 -- Zai Lab Limited is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Zai Lab Limited (NASDAQ: ZLAB), 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 focuses on whether a series of statements by Zai Lab Limited regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience primarily in Mainland China and Hong Kong.
On March 9, 2022, the U.S. Securities and Exchange Commission ("SEC") published a notification identifying Zai Lab Limited, among other companies, as in potential violation of the Holding Foreign Companies Accountable Act, which allows the SEC to delist companies and ban a company's shares from being traded if the company fails to allow U.S. regulators to review their company audits for three straight years. Zai Lab Limited and the other companies named in the SEC notification have until March 29, 2022 to challenge the charges against them.
Shares of Zai Lab Limited (NASDAQ: ZLAB) declined from $181.92 per share in June 2021, to as low as $25.74 per share on March 14, 2022.
On June 6, 2023, Zai Lab reported phase 3 trials for an oncology therapy it is developing with NovoCure. It said that its tumor treating fields (TTFields) therapy, which uses skin patches to deliver electric fields to areas of the body, when used with standard therapies, met its primary endpoint of three-month improvement in median overall survival time in metastatic non-small cell lung cancer (NSCLC) patients. However the study was unreliable because many of the study participants didn't use an initial checkpoint inhibitor, which is seen as the leading way to treat NSCLC, thereby allowing for the possibility that the study was highly skewed by comparing TTFields to a lesser therapy.
Shares of Zai Lab Limited (NASDAQ: ZLAB) declined from $37.92 per share on June 2, 2023, to as low as $27.08 per share on June 14, 2023.
Those who purchased shares of Zai Lab Limited (NASDAQ: ZLAB) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.