INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Zogenix, Inc. Investors (ZGNX)

Apr 25, 2019 05:57 pm
BENSALEM, Pa. -- 

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Zogenix, Inc. (“Zogenix” or the “Company”) (NASDAQ: ZGNX) securities between February 6, 2019 and April 8, 2019, inclusive (the “Class Period”). Zogenix investors have until June 11, 2019 to file a lead plaintiff motion.

Investors suffering losses on their Zogenix investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].

On April 8, 2019, Zogenix announced that it received a refusal to file letter from the U.S. Food and Drug Administration (“FDA”) regarding Zogenix’s new drug application (“NDA”) for FINTEPLA, Zogenix’s proposed treatment for seizures associated with Dravet syndrome. The FDA determined that the NDA was not sufficiently complete to permit a substantive review because certain non-clinical studies were not submitted to allow assessment of the chronic administration of fenfluramine, and the application contained an incorrect version of a clinical dataset. On this news, shares of Zogenix fell $11.89 or nearly 23% to close at $39.96 per share on April 9, 2019, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) Zogenix’s NDA for FINTEPLA contained inadequate non-clinical data and an incorrect version of a clinical dataset; (2) consequently, Zogenix's NDA for FINTEPLA was unlikely to gain FDA approval; and (3) as a result, the Company's public statements were materially false and misleading at all relevant times.

If you purchased shares of Zogenix, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com