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NEW YORK, May 19, 2017 -- Safirstein Metcalf LLP 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, and is filed on behalf of a class consisting of all persons or entities who acquired shares of Neurotrope between January 7, 2016, and April 28, 2017 (the "Class Period").
If you purchased Neurotrope securities during the Class Period, and would like more information about getting involved in the Neurotrope Shareholder Class Action, please call 1-800-221-0015, or email [email protected]. 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. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member
The complaint alleges that, throughout the class period, Neurotrope issued materially false and misleading statements and/or failed to disclose material information concerning the efficacy of its lead product candidate, Bryostatin-1. On May 1, 2017, Neurotrope issued a press release announcing “positive top-line results” of the pivotal Phase 2b trials of Bryostatin-1, noting “improvement in patients with moderate to severe Alzheimer’s disease.” However, the underlying trial data contradicts these representations, as the top-line data relating to the 20 microgram dose of Bryostatin-1 failed to produce results that were statistically significant. In addition, Neurotrope failed to disclose statements regarding the efficacy of the 40 microgram dose with regard to its primary and secondary endpoints. Upon this news, shares of Neurotrope fell from a close of $18.81 on April 28, 2017, to a close of $6.97 per share on May 1, 2017.
About Safirstein Metcalf LLP
Safirstein Metcalf LLP focuses its practice on shareholder rights. The law firm also practices in the areas of antitrust and consumer protection. All of the Firm’s legal endeavors are rooted in its core mission: provide investor and consumer protection.
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Safirstein Metcalf LLP Peter Safirstein, Esq. 1250 Broadway 27th Floor New York, NY 10001 1-800-221-0015
