Glancy Prongay & Murray LLP Files a Securities Class Action Behalf of Nabriva Therapeutics plc Investors (NBRV)
LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24NBRV&src=ctag” target=”_blank”gt;$NBRVlt;/agt; lt;a href=”https://twitter.com/hashtag/CLASSACTION?src=hash” target=”_blank”gt;#CLASSACTIONlt;/agt;–Glancy
Prongay & Murray LLP (“GPM”) announces that it has filed a class
action lawsuit in the United States District Court for the Southern
District of New York, captioned Enriquez v. Nabriva Therapeutics plc
et al., (Case No. 1:19cv04183), on behalf of persons and entities
that purchased or otherwise acquired Nabriva Therapeutics plc (NASDAQ: NBRV)
(“Nabriva” or the “Company”) securities between November 1, 2018 and
April 30, 2019, inclusive (the “Class Period”). Plaintiff pursues
claims under Sections 10(b) and 20(a) of the Securities Exchange Act of
1934 (the “Exchange Act”).
Investors are hereby notified that they have 60 days from the date of
this notice to move the Court to serve as lead plaintiff in this
action.
If you are a shareholder who suffered a loss, click here
to participate.
On April 30, 2019, the Company revealed that it had received a Complete
Response Letter (“CRL”) from the U.S. Food and Drug Administration
(“FDA”) for its New Drug Application (“NDA”) for CONTEPO
for injection for the treatment of complicated urinary tract infections.
According to the CRL, the Company had to address certain “issues related
to facility inspections and manufacturing deficiencies at one of
Nabriva’s contract manufacturers” before the FDA would approve the NDA.
On this news, the Company’s share price fell $0.82 per share, more than
27%, to close at $2.17 per share on May 1, 2019, thereby injuring
investors.
The complaint filed in this class action alleges that the Registration
Statements were false and misleading and omitted to state material
adverse facts. Throughout the Class Period, Defendants made materially
false and/or misleading statements, as well as failed to disclose
material adverse facts about the Company’s business, operations, and
prospects. Specifically, Defendants failed to disclose to investors: (1)
that the Company’s manufacturers failed to meet good manufacturing
practices; (2) that these manufacturers would be subject to inspections
by the FDA in connection with the Company’s NDA; (3) that, as a result
of the manufacturing deficiencies, the Company’s NDA for CONTEPO was
unlikely to be approved by the FDA; and (4) that, as a result of the
foregoing, Defendants’ positive statements about the Company’s business,
operations, and prospects, were materially misleading and/or lacked a
reasonable basis.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased Nabriva securities during the Class Period, you may
move the Court no later than 60 days from the date of this
notice to ask the Court to appoint you as lead plaintiff. To be a
member of the Class you need not take any action at this time; you may
retain counsel of your choice or take no action and remain an absent
member of the Class. If you wish to learn more about this action, or if
you have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Lesley Portnoy,
Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles,
California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com