The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Iterum Therapeutics Plc (NASDAQ: ITRM) who purchased shares between November 30, 2020 and July 23, 2021. The action, which was filed in the United States District Court for the Northern District of Illinois, alleges that the Company violated federal securities laws.
In particular, the Iterum lawsuit alleges that (i) the sulopenem New Drug Application (“NDA”) lacked sufficient data to support approval for the treatment of adult women with urinary tract infections caused by designated susceptible microorganisms proven or strongly suspected to be nonsusceptible to a quinolone; (ii) accordingly, it was unlikely that the Food and Drug Administration would approve the sulopenem NDA in its current form; (iii) Defendants downplayed the severity of issues and deficiencies associated with the sulopenem NDA; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until October 4, 2021 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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