NEW YORK, July 1, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Axsome Therapeutics, Inc. (NASDAQ: AXSM).
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The lawsuit seeks to recover losses for shareholders who purchased Axsome between December 30, 2019 and April 22, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until July 12, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Axsome Therapeutics, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) Axsome's chemistry, manufacturing, and control ("CMC") practices were deficient with respect to AXS-07, the Company's medicine for the acute treatment of migraine, and its manufacturing process; (ii) as a result, Axsome was unlikely to submit the AXS-07 New Drug Application ("NDA") on its initially represented timeline; (iii) the foregoing CMC issues remained unresolved at the time that the U.S. Food and Drug Administration ("FDA") reviewed the AXS-07 NDA; (iv) accordingly, the FDA was unlikely to approve the AXS-07 NDA; (v) as a result of all the foregoing, Axsome had overstated AXS-07's regulatory and commercial prospects; and (vi) as a result, the Company's public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Jakubowitz Law