Important Information for Investors: Class Action Lawsuit Against ESSA Pharma Inc.
Los Angeles, CA – In a significant development for the investment community, The Schall Law Firm announces that a class action lawsuit has been filed against ESSA Pharma Inc. (“ESSA” or “the Company”) (NASDAQ:EPIX) in the United States District Court for the Southern District of New York. The lawsuit alleges that ESSA Pharma violated the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
Details of the Lawsuit
The complaint, filed on behalf of all persons who purchased ESSA Pharma securities between December 12, 2023, and October 31, 2024, inclusive (the “Class Period”), accuses the Company of making false and misleading statements and omitting material facts related to the development and regulatory status of its investigational drug, Pexagonisib.
Allegations Against ESSA Pharma
The lawsuit alleges that ESSA Pharma, through its senior management, made false and misleading statements regarding the progress and regulatory status of Pexagonisib. These statements were made in various press releases, SEC filings, and public statements, causing investors to purchase ESSA Pharma securities at artificially inflated prices.
The Impact on Investors
The lawsuit seeks to recover damages on behalf of affected investors. If you purchased ESSA Pharma securities during the Class Period, you may be eligible to participate in the class action lawsuit. The Schall Law Firm urges you to contact the firm before March 25, 2025, to discuss your rights as an investor.
Implications for the Biotech Industry and the Market
The ESSA Pharma lawsuit serves as a reminder of the importance of transparency and truthfulness in the biotech industry. Misrepresentations regarding the status of investigational drugs can significantly impact a company’s stock price, causing financial harm to investors. The lawsuit also highlights the role of securities regulators in protecting investors from such fraudulent activities.
Conclusion
Investors who purchased ESSA Pharma securities during the Class Period may have legal claims. The Schall Law Firm encourages investors to contact the firm before March 25, 2025, to discuss their potential remedies. This lawsuit underscores the importance of truthfulness and transparency in the biotech industry, ensuring a fair and honest market for all investors.
- Class Action Lawsuit Filed Against ESSA Pharma Inc.
- Allegations of Violations of the Securities Exchange Act of 1934 and Rule 10b-5.
- Investors Encouraged to Contact The Schall Law Firm Before March 25, 2025.
- Impact on Biotech Industry and Market: Emphasis on Transparency and Truthfulness.
