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Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Fennec Pharmaceuticals Inc. (FENC) Investors

LOS ANGELES, CA (ClassActionDaily) Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Fennec Pharmaceuticals Inc. (“Fennec” or the “Company”) (NASDAQ: FENC) securities between May 28, 2021, and November 26, 2021, inclusive (the “Class Period”).  Fennec investors have until April 11, 2022, to file a lead plaintiff motion.

If you suffered a loss on your Fennec investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/fennec-pharmaceuticals-inc-1/.  You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On November 29, 2021, before the market opened, Fennec issued a press release announcing that it expects to receive a Complete Response Letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) regarding its resubmitted PEDMARK New Drug Application (“NDA”).  Specifically, Fennec stated that the FDA had indicated that, “following a recent completion of a pre-approval inspection of the manufacturing facility of our drug product manufacturer, deficiencies have been identified.”

On this news, Fennec’s stock fell $4.86, or 50.4%, to close at $4.78 per share on November 29, 2021, thereby injuring investors.

The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Fennec had not successfully remediated, and overstated its efforts to remediate, issues with the manufacturing facility of its drug product manufacturer for PEDMARK; (2) as a result, the FDA was unlikely to approve the Resubmitted PEDMARK NDA; (3) accordingly, the regulatory and commercial prospects of the Resubmitted PEDMARK NDA were overstated; and (4) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.

If you purchased or otherwise acquired Fennec securities during the Class Period, you may move the Court no later than April 11, 2022, 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 Charles Linehan, 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 the number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

SOURCE: Glancy Prongay & Murray LLC via BusinessWire