ALERT: Investors in NRx Pharmaceuticals, Inc. with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
SAN DIEGO, January 23, 2022 /PRNewswire/ — The Robbins Law Firm Geller Rudmann & Dowd LLP announces that purchasers or purchasers of securities of NRx Pharmaceuticals, Inc. (NASDAQ: NRXP; NRXPW) between June 1, 2021 and November 4, 2021, both have dates inclusive (the “Class Period”) through March 21, 2022 Appointed Lead Plaintiff in Dal Bosco v NRx Pharmaceuticals, Inc., No. 22-cv-00066 (D. Del.). Begun January 18, 2022, NRx Pharma’s class action lawsuit accuses NRx and some of its top executives of violating the Securities Exchange Act of 1934.
If you have suffered significant losses and would like to appear as a lead plaintiff in NRx Pharma’s class action lawsuit, please submit your information by clicking here. You may also contact Robbins Geller Attorney JC Sanchez by phone at 800/449-4900 or email [email protected]. Lead plaintiff motions for the NRx Pharma class action must be filed with the court at the latest March 21, 2022.
CASE CLAIMS: NRx is a clinical-stage small molecule pharmaceutical company developing multiple therapeutics for the treatment of central nervous system disorders and life-threatening lung diseases. NRx’s products include ZYESAMI, an investigational pre-commercial drug for respiratory failure associated with COVID-19. In June 2021, NRx announced that it has received an Emergency Use Authorization (“EUA”) application from the US Food and Drug Administration (“FDA”) for ZYESAMI (aviptadil acetate) for the treatment of critically ill patients COVID-19 patients with respiratory failure.
NRx Pharma’s class action lawsuit alleges that throughout the class action period, the defendants made false and misleading statements and failed to disclose the following: (i) ZYESAMI’s EUA application contained insufficient data regarding the potential benefits and risks of ZYESAMI; (ii) accordingly, it was unlikely that the FDA would approve ZYESAMI’s EUA application in its current form; and (iii) as a result, NRx’s public statements were materially false and misleading at all relevant times.
on November 4, 2021, NRx issued a press release “announc[ing] that the [FDA] has declined to issue one [EUA] for ZYESAMI® (aviptadil). The FDA stated that it could not issue the EUA at this time due to insufficient data on the drug’s known and potential benefits and the known and potential risks of ZYESAMI in patients suffering from critical COVID-19 with respiratory failure news, the stock price of NRx fell more than 25%, hurting investors.
Robbins Geller Rudmann & Dowd LLP has created a special SPAC task force to protect investors in blank check companies and seek redress for corporate wrongdoing. Comprised of experienced litigators, investigators and forensic accountants, the SPAC Task Force is dedicated to eradicating and prosecuting fraud on behalf of aggrieved SPAC investors. The rise of blank check funding poses unique risks for investors. Robbins Geller’s SPAC Task Force represents the leadership in ensuring integrity, honesty and equity in this rapidly evolving investment environment.
REMAINING PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 allows any investor who purchased NRx securities during the class action period to seek appointment as the lead plaintiff in NRx Pharma’s class action. A lead plaintiff is generally the claimant who has the greatest financial interest in the remedy sought by the alleged class that is also typical and appropriate for the alleged class. A lead plaintiff acts on behalf of all other group members in the direction of NRx Pharma’s class action lawsuit. Lead Plaintiff may select a law firm of its choice to conduct NRx Pharma’s class action lawsuit. An investor’s ability to participate in a potential future recovery of NRx Pharma’s class action lawsuit is not contingent on its serving as lead plaintiff.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 offices nationwide, Robbins Geller Rudman & Dowd LLP is the largest US law firm representing investors in securities class actions. Robbins Geller’s attorneys have secured many of the largest shareholder recoveries in history, including the largest securities class action lawsuit recovery of all time — $7.2 billion – in relation to Enron Corp. sec. Lig. In the 2020 ISS Securities Class Action Services Top 50 report, Robbins Geller was ranked first for recovery $1.6 billion for investors this year, more than double the amount recovered by securities plaintiffs from any other firm. Visit http://www.rgrdlaw.com for more information.
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SOURCE Robbins Geller Rudman & Dowd LLP