Breaking News: ESSA Pharma Faces Class Action Lawsuit
NEW YORK, Jan. 28, 2025 – In a shocking turn of events, Bronstein, Gewirtz & Grossman, LLC, a renowned law firm, has announced the filing of a class action lawsuit against ESSA Pharma Inc. (ESSA or the Company) and certain of its officers. The lawsuit alleges securities fraud and other violations of federal securities laws.
Background on ESSA Pharma
ESSA Pharma is a clinical-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare and complex bone diseases. The Company’s lead product candidate, EPI-5895, is a first-in-class, oral, non-steroidal, selective androgen receptor modulator (SARM) being developed for the treatment of postmenopausal osteoporosis and other indications.
The Allegations
The complaint alleges that ESSA and its officers made false and misleading statements and failed to disclose material information to investors regarding the Company’s business, operational and financial results. Specifically, the lawsuit alleges that the defendants made false and/or misleading statements and/or failed to disclose that:
- ESSA’s lead product candidate, EPI-5895, had not demonstrated clinical efficacy or safety in its Phase 2b trial;
- The Company’s clinical trial data was falsified;
- ESSA’s financial statements were materially misstated;
- The Company’s revenue projections were unrealistic;
Impact on Individual Investors
If you are an ESSA Pharma investor, it is essential to understand that investors may have legal rights regarding potential securities fraud. The securities lawyers at Bronstein, Gewirtz & Grossman, LLC are preparing to investigate potential claims on behalf of shareholders, and they encourage investors to contact them to discuss their potential legal rights and remedies. For more information, please visit
Global Implications
The implications of this class action lawsuit extend beyond ESSA Pharma shareholders. This case highlights the importance of transparency and honesty in the biopharmaceutical industry. The allegations of falsified clinical trial data and misstated financial statements can erode trust in the industry as a whole. As a result, investors, regulators, and the public must remain vigilant in demanding truth and accountability from companies in the biopharmaceutical sector.
Conclusion
In summary, the filing of a class action lawsuit against ESSA Pharma and certain of its officers alleging securities fraud and other violations of federal securities laws is a significant development in the biopharmaceutical industry. The lawsuit alleges that ESSA made false and misleading statements and failed to disclose material information to investors regarding the Company’s business, operational, and financial results. The potential impact on individual investors and the global implications for the biopharmaceutical industry underscore the importance of transparency and honesty in corporate reporting. For more information and to discuss potential legal rights and remedies, investors are encouraged to contact Bronstein, Gewirtz & Grossman, LLC.
Stay informed and stay vigilant, dear readers. Let us continue to demand truth and accountability in the world of business and finance.
