LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Minerva Neurosciences, Inc. (“Minerva” or “the Company”) (NASDAQ: NERV) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between May 15, 2017 and November 30, 2020, inclusive (the ”Class Period”), are encouraged to contact the firm before February 8, 2021.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Minerva failed to inform investors of the true feedback from the FDA after its “end-of-Phase 2” meeting. The Company’s Phase 2b study failed to use the commercial formulation of roluperidone and was exclusively conducted outside of the United States. The Company’s Phase 3 study was rendered incapable of proving the drug’s effectiveness due to failing to meet its primary and key secondary endpoints. The Combination of the Phase 2b and Phase 3 trials would be “highly unlikely” to support an NDA submitted to the FDA. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Minerva, investors suffered damages.
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