The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Lexicon Pharmaceuticals, Inc. (NASDAQGS: LXRX) who purchased shares between March 11, 2016 and January 17, 2019. The action, which was filed in the United States District Court for the Southern District of Texas, alleges that the Company violated federal securities laws.
In particular, the Lexicon lawsuit alleges that (i) the data from Lexicon’s Phase 3 clinical trials assessing the safety and efficacy of Sotagliflozin in treating type 1 diabetes were not as positive as Lexicon represented; (ii) the health risks posed by Sotagliflozin were severe enough to threaten its U.S. Food & Drug Administration approval prospects; and (iii) as a result, Lexicon’s public statements were materially false and misleading at all relevant times.
Shareholders have until April 1, 2019 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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