NEW YORK, NY / ACCESSWIRE / July 14, 2021 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Orphazyme A/S ('Orphazyme' or 'the Company') (NASDAQ:ORPH) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired (1) Orphazyme American depositary shares ('ADSs') pursuant and/or traceable to the Offering Documents (defined below) issued in connection with the Company's initial public offering conducted on or about September 29, 2020 (the 'IPO' or 'Offering'); and/or (2) Orphazyme securities between September 29, 2020 and June 18, 2021, both dates inclusive (the 'Class Period'). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/orph.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933 and the Securities Exchange Act of 1934.
The complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Additionally, the complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies, and specifically, the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (1) arimoclomol was not as effective in treating IBM as Defendants had represented; (2) arimoclomol was not as effective in treating ALS as Defendants had represented; (3) the arimoclomol NDA for NPC was incomplete and/or required additional evidence and data to support the benefit-risk assessment of that NDA; (4) as a result of (5), the FDA was unlikely to approve the arimoclomol NDA for NPC in its present form; (6) the Company's overall business prospects, as well as arimoclomol's commercial prospects, were significantly overstated; and (7) as a result, the Offering Documents and Defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/orph or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss inOrphazyme you have until September 7, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC