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NEW YORK, Oct. 31, 2016 -- The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the District of Massachusetts on behalf of investors who purchased Seres Therapeutics, Inc. (NASDAQ:MCRB) securities between June 25, 2015 and July 29, 2016.
Click here to learn about the case: http://www.wongesq.com/pslra/seres-therapeutics-inc. There is no cost or obligation to you.
According to the complaint, throughout the Class Period, Seres Therapeutics made materially false and misleading positive statements about the potential and efficacy of its lead drug product candidate SER-109. In particular, it is alleged that Seres touted the drug, calling it one among a “novel class of biological drugs” and a potential “first-in-field drug” despite knowledge that the Phase 2 clinical trial of SER-109 would fail to achieve its primary endpoint as compared to placebo.
On July 29, 2016, the Company issued a press release announcing that the Phase 2 clinical trial of SER-109 did not achieve its primary endpoint. In an earnings call, President and CEO Roger J. Pomerantz also revealed that certain undisclosed modifications had been made to the formulation of SER-109 prior to the trial. Following this news, shares of Seres Therapeutics fell from a close of $35.77 on July 28, 2016, to a close of just $9.73 on August 1, 2016.
If you suffered a loss in Seres Therapeutics you have until November 28, 2016 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. To obtain additional information, contact Vincent Wong, Esq. either via email [email protected], by telephone at 212.425.1140, or visit http://www.wongesq.com/pslra/seres-therapeutics-inc.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Vincent Wong, Esq. 39 East Broadway Suite 304 New York, NY 10002 Tel. 212.425.1140 Fax. 866.699.3880 E-Mail: [email protected]
