San Diego, CA -- (SBWire) -- 10/03/2016 --An investor, who purchased shares of Seres Therapeutics Inc (NASDAQ:MCRB), filed a lawsuit in Massachusetts over alleged Securities Laws violations by Seres Therapeutics Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Seres Therapeutics Inc (NASDAQ:MCRB) have certain options and for certain investors are short and strict deadlines running. Deadline: November 29, 2016. NASDAQ:MCRB investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff claims that between June 25, 2015 and July 29, 2016 the defendants made certain materially false and misleading positive statements about the potential and efficacy of its lead drug product candidate SER-109. In particular, the plaintiff alleges that Seres Therapeutics Inc touted the drug, calling it one among a "novel class of biological drugs" and a potential "first-in-field drug" despite knowledge that the Phase 2 clinical trial of SER-109 would fail to achieve its primary endpoint as compared to placebo.
On July 29, 2016, Seres Therapeutics Inc disclosed that its Phase 2 clinical study for ECOSPOR™ did not meet its primary endpoint of reducing the relative risk of Clostridium difficle infection recurrence. Shares of Seres Therapeutics Inc (NASDAQ:MCRB) declined on July 29, 2016 to as low as $8.05 per share.
Those who purchased shares of Seres Therapeutics Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Lawsuit for Investors in Shares of Seres Therapeutics Inc (NASDAQ:MCRB) in Effort to Recover Losses
A lawsuit was filed on behalf of investors in Seres Therapeutics Inc (NASDAQ:MCRB) shares over alleged securities laws violations and NASDAQ:MCRB investors should contact the Shareholders Foundation.