LOS ANGELES, CA / ACCESSWIRE / August 28, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Acer Therapeutics Inc. ("Acer" or "the Company") (NASDAQ:ACER) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Acer disclosed on June 25, 2019 that it received a Complete Response Letter ("CRL") from the FDA on its application for EDSIVO (celiprolol) for the treatment of vascular Ehlers-Danlos syndrome ("vEDS"). The Company admitted that "[t]he CRL states that it will be necessary to conduct an adequate and well-controlled trial to determine whether celiprolol reduces the risk of clinical events in patients with vEDS," and that "Acer plans to request a meeting to discuss the FDA's response." Based on this news, shares of Acer fell nearly 80%.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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SOURCE: The Schall Law Firm