Lowey Dannenberg, P.C. Announces Filing of Securities Class Action Lawsuit Against Bellus Health Inc. on Behalf of Investors Who Acquired Shares from September 19, 2019 to July 5, 2020 and Encourages Investors to Inquire About the Lead Plaintiff Position Before the May 17, 2021 Lead Plaintiff Deadline
NEW YORK, March 17, 2021 (GLOBE NEWSWIRE) – Lowey Dannenberg PC, a pre-eminent consumer and investor appeal law firm, announces the filing of a class action lawsuit in the U.S. District Court for the Southern Borough of New York on behalf of investors dated Purchased or otherwise acquired common stock of Bellus Health, Inc. (“Bellus” or “Company”) (NASDAQ: BLU) on September 19, 2019 through July 5, 2020 (the “Class Period”) inclusive). Violations of the Federal Securities Act are asserted in the class action.
Bellus is a clinical-stage biopharmaceutical company whose lead product is BLU-493, which is being developed for the treatment of chronic cough and other afferent hypersensitivity disorders.
The complaint alleges that Bellus made false and misleading information in its registration statement and prospectus (the “Offer”) and subsequent public statements throughout the class period and did not disclose material adverse facts about the company’s business. In particular, Bellus and his officers (1) misled the investing public about the effectiveness of BLU-493, which posed a high risk that the drug would fail to receive FDA approval for Phase 2 trials and further lag behind industry leaders in development would be an FDA cleared treatment; (2) created an artificial demand for the Bellus common stock sold in the offering that enabled the company to raise approximately $ 70 million. and (3) caused Plaintiff and Class to purchase the Company’s publicly traded common stock at artificially inflated prices by July 5, 2020.
If you want to serve as the lead plaintiff for the class, you must file an application with the court by May 17, 2021 at the latest. Any member of the proposed class may serve as the lead plaintiff through an attorney of their choosing.
If you have incurred a net loss from investing in the IPO of Bellus common stock effective September 5, 2019, or from purchases in the secondary market through July 5, 2020, you may receive additional information about this lawsuit and your ability to be a lead plaintiff contact David Harrison at firstname.lastname@example.org or 914-733-7228 or Christian Levis at email@example.com or 914-733-7220.
About Lowey Dannenberg
Lowey Dannenberg is a national law firm representing institutional and individual investors who have suffered financial losses due to corporate fraud and misconduct in violation of federal securities and antitrust laws. The company has extensive experience pursuing millions of dollars’ worth of litigation and has previously reclaimed billions of dollars on behalf of investors.
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