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AUGUST 8, 2016 DEADLINE: Lundin Law PC Announces Securities Class Action Lawsuit Against Chiasma, Inc. And Reminds Investors With Losses To Contact The FirmLundin Law PC announces a class action lawsuit has been filed against Chiasma, Inc. ("Chiasma" or the "Company") (Nasdaq: CHMA) concerning possible violations of federal securities laws between July 15, 2015 and April 17, 2016. Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm in advance of the August 8, 2016, lead plaintiff motion deadline. To participate in this class action lawsuit, please contact Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or via e-mail at [email protected]. No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absentclass member. According to the complaint, Chiasma made materially false and/or misleading statements about the Company's business during the Class Period. The Company failed to disclose that the Phase 3 clinical trial for its oral octreotide, Mycapssa, which was conducted before the July 15, 2015 IPO, was insufficient to prove efficacy and secure FDA approval. Also Chiasma's supervision of its suppliers was not sufficient enough to prevent deficiencies that delayed FDA approval of Mycapssa. On April 18, 2016 the Company announced that the FDA issued a Complete Response Letter in response to the Company's New Drug Application for Mycapssa stating that the FDA did not believe the application provided sufficient evidence of efficacy to warrant approval, another clinical trial would be necessary, and that deficiencies with the Company's suppliers would need to be resolved. When Chiasma announced this news on April 18, 2016 the share price fell 63.13% on that day. Lundin Law PC was created by Brian Lundin, a securities litigator based in Los Angeles. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: http://www.businesswire.com/news/home/20160624005772/en/ |
