Veru Lawsuit VERU | Deadline February 6, 2023
Veru Class Action Lawsuit (Veru Lawsuit)
A lawsuit has been filed against the Veru Inc., (VERU:NASDAQ) on December 5, 2022 at the court of the Southern District of Florida.
Investors who purchased or otherwise acquired VERU common stock during the period from May 11, 2022 through November 9, 2022 can register their information before the deadline of February 6, 2023.
Is Veru Involved in a Securities Class Action Lawsuit?
Yes, a lawsuit has been filed against Veru Inc. on December 6, 2022, on behalf of shareholders during the period from May 11, 2022 through November 9, 2022.
What Is The Veru Lawsuit About?
The Veru Class Action Lawsuit (NASDAQ:VERU) (Veru Class Action Lawsuit) was filed on behalf of the investors who purchased Veru Inc. (VERU) securities between May 11, 2022 through November 9, 2022. For more on the VERU Lawsuit please contact us today.
According to the Veru lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
Throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the data from the sabizabulin Phase 3 trial and the Company’s interactions with the FDA.
Specifically, Veru misled its shareholders to believe that the data from the Phase 3 trial was sufficient to support Emergency Use Authorization (“EUA”) and even the submission of a New Drug Application (“NDA”) without any furtherstudies.
VERU’s filings therefore concealed the true risks faced by the Company in gaining approval for its EUA request.
How much did VERU stock drop?
Shareholders who held VERU securities saw stock price dropped to $6.97 on November 10, 2022, a 54% drop.
What does VERU Do?
Veru Inc., a biopharmaceutical company, focuses on developing medicines for the management of COVID-19, and breast and prostate cancers. Its commercial products comprise FC2 female condom/internal condom for the protection against unintended pregnancy and the transmission of sexually transmitted infections; and Entadfi, a capsule for the treatment of urinary tract symptoms.
The company’s drug candidates under development include Enobosarm, an oral selective androgen receptor agonist that is in phase III clinical trial for the treatment of AR+ ER+ HER2- metastatic breast cancer; Sabizabulin, which is phase 2b clinical trial for the treatment of AR+ ER+ HER2- metastatic breast cancer; and Enobosarm + abemaciclib combination therapy, which is in phase III clinical trial for the treatment of AR+ ER+ HER2- metastatic breast cancer.
In addition, its drug candidate also comprise Sabizabulin, which is in Phase 3 clinical trial for the treatment of metastatic castration and androgen receptor targeting agent resistant prostate cancer; VERU-100, a GnRH antagonist peptide injection, which is in Phase II clinical trial for the treatment of advanced hormone sensitive prostate cancer; Zuclomiphene Citrate, which is in Phase 2b clinical trial for treating hot flashes; and Sabizabulin, an oral microtubule disruptor with dual antiviral and anti-inflammatory to severe COVID-19 patients at risk for acute respiratory distress syndrome.
The company was formerly known as The Female Health Company and changed its name to Veru Inc. in July 2017. Veru Inc. was incorporated in 1971 and is headquartered in Miami, Florida.
Which Class Action Attorney Firm Can Help With The VERU Lawsuit?
Levi & Korsinsky LLP is a Securities Class Action Law Firm. For over 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
Does It Cost Me To Join The VERU Class Action?
No, there are no out of pocket costs for you to join Veru Lawsuit.
What Is the Lead Plaintiff Process?
According to the Private Securities Reform Act of 1995, any investor who bought or acquired VERU securities in the Class Period may apply for appointment as a lead plaintiff. The lead plaintiff is usually the movant who has the most financial interest in the relief sought. However, he or she must also be typical or adequate to the putative classes. The VERU class-action lawsuit is directed by the lead plaintiff. To litigate the Veru Class Action Lawsuit, the lead plaintiff may choose any law firm it wishes. The ability of an investor to share in any future recovery is not tied to being the lead plaintiff in the Veru Class Action Lawsuit.
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