NEW YORK, July 11, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Recro Pharma, Inc. ("Recro" or the "Company") (NASDAQ:REPH) and certain of its officers, on behalf of shareholders who purchased Recro securities between July 31, 2017 through May 23, 2018, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/reph.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) IV meloxicam lacked supporting clinical data to show sufficient clinical benefits to receive U.S. Food and Drug Administration (“FDA”) approval; and (2) as a result, Recro’s public statements were materially false and misleading at all relevant times.
On May 24, 2018, Recro revealed that the U.S. Food & Drug Administration ("FDA") had declined to approve Recro's New Drug Application for the non-opioid pain relief treatment IV meloxicam. The FDA stated in its Complete Response Letter that the drug's analgesic effects did not meet its expectations and raised questions related to chemistry, manufacturing and controls data. Following this news, Recro stock has dropped $6.79 per share or 54.67%, and closed at $5.63 on May 24, 2018.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/reph or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Recro you have until July 30, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org