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 - EconoTimes)
NEW YORK, May 22, 2017 -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Neurotrope, Inc. (“Neurotrope” or the “Company”) (Nasdaq:NTRP) in the United States District Court for the Southern District of New York on behalf of a class consisting of investors who purchased or otherwise acquired Neurotrope stock on the open market from January 7, 2016 through April 28, 2017, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose material adverse information regarding the efficacy of its lead product candidate, Bryostatin-1. On May 1, 2017, the Company announced “positive top-line results” of the focal Phase 2b trials of Bryostatin-1, mentioning “improvement in patients with moderate to severe Alzheimer’s disease.” The trial data allegedly negates these statements as the top-line data relating to the 20 microgram dose of Bryostatin-1 did not produce statistically significant results. The Company also allegedly failed to disclose statements about the efficacy of the 40 microgram dose in connection with its primary and secondary endpoints. On this news, shares of the Company fell from $18.81 per share on April 28, 2017 to a close at $6.97 per share on May 1, 2017.
If you wish to serve as lead plaintiff, you must move the Court no later than July 17, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
