The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Fennec Pharmaceuticals Inc. (NASDAQ: FENC) who purchased shares between May 28, 2021 and November 26, 2021. The action, which was filed in the United States District Court for the Middle District of North Carolina, alleges that the Company violated federal securities laws.
In particular, the Fennec lawsuit alleges that (i) Fennec had not successfully remediated, and overstated its efforts to remediate, issues with the manufacturing facility of its drug product manufacturer for PEDMARK, a new compound developed to reduce the incidence of hearing loss in children undergoing chemotherapy; (ii) as a result, the Food and Drug Administration likely to approve the Resubmitted Pedmark New Drug Application (“NDA”); (iii) accordingly, the regulatory and commercial prospects of the Resubmitted Pedmark NDA were overstated; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until April 11, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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