Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against BELLUS Health, Inc.
NEW YORK, March 19, 2021 (GLOBE NEWSWIRE) – Bernstein Liebhard, a nationally recognized investor rights law firm, announces that a class action lawsuit has been filed on behalf of investors who have bought or acquired the securities of BELLUS Health Inc. “BELLUS” or the “Company”) (NASDAQ: BLU) from September 5, 2019 to July 5, 2020 (the “Class Period”). The lawsuit filed in the U.S. District Court for the Southern District of New York alleges violations of the Securities Exchange Act of 1934.
If you BELLUS securities purchased and / or wish to discuss your statutory rights and options Please visit Bellus Shareholder’s class action lawsuit or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com
The complaint alleges that throughout the classroom, defendants made materially false and / or misleading statements and failed to advise investors that BLU-5937 had a much higher risk of not demonstrating effectiveness in chronic coughing. Accordingly, despite Merck’s successful Phase 2 study, BLU-5937 had a high risk of failing the Phase 2 study.
Before the markets opened on July 6, 2020, defendants revealed the truth about BLU-5937’s effectiveness. They announced that the drug had failed a Phase 2 study in chronic cough patients who were unsuccessful with other treatments. In particular, BLU-5937 was not significantly better than placebo in reducing the frequency with which patients coughed. The phase 2 study showed a “clinically meaningful and statistically highly significant effect only in a subset of patients with high cough counts (approximately 32 per day). Therefore, the company planned a phase 2b study that focused on these patients.
In this news, indicating that BELLUS had fallen even further behind Merck in developing an FDA-cleared treatment for refractory chronic cough, the company’s share price fell over 75% and closed on July 8, 2020 due to high trading volume at $ 2.97.
If you want to serve as the lead plaintiff, you must transfer the court no later than May 17, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you don’t take action, you may remain an absent class member.
If you BELLUS securities purchased and / or wish to discuss your statutory rights and options Please visit https://www.bernlieb.com/cases/bellushealthinc-blu-shareholder-class-action-lawsuit-stock-fraud-380/apply/ or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com
Since 1993, Bernstein Liebhard LLP has collected more than $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to oversee their assets and litigate on their behalf. Because of its litigation success with hundreds of lawsuits and class actions, the firm has been featured on the National Law Journal’s “Hot List” thirteen times and on The Legal 500 for ten consecutive years.
LAWYER. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this Connecticut state complaint is Michael S. Bigin. Past results do not guarantee or forecast a similar result with respect to future matters.
Matthew E. Guarnero
Bernstein Liebhard LLP