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CST: 25/05/2019 05:51:53   

Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Corbus Pharmaceuticals Holdings, Inc.

16 Days ago

LOS ANGELES , May 08, 2019 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the May 13, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Corbus Pharmaceuticals Holdings, Inc. (“Corbus” or the “Company”) (NASDAQ: CRBP) securities between November 14, 2016 and February 28, 2019, inclusive (the “Class Period”). Corbus investors have until May 13, 2019 to file a lead plaintiff motion in this class action.

If you are a shareholder who suffered a loss, click here to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.

On February 28, 2019, an article was published on Seeking Alpha alleging that Corbus “has ties to investors convicted of or alleged to have committed securities fraud” and that its drug candidate, lenabasum, is believed to have “failed its major trials in [systemic sclerosis] and [cystic fibrosis].” On this news, shares of Corbus fell $1.32 per share or nearly 16% to close at $6.94 per share on February 28, 2019, thereby injuring investors.

The Complaint in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) Corbus improperly changed the primary efficacy endpoint for the clinical study of its drug candidate, Lenabasum, after the results were unblinded to Corbus; (2) Corbus reported a one-sided p value, not the traditional two-sided p value normally reported in clinical trials, in an effort to conceal the fact that the study results did not have statistical significance; and (3) as a result, Corbus’ public statements were materially false and misleading at all relevant times.

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If you purchased or otherwise acquired Corbus securities during the Class Period you may move the Court no later than May 13, 2019 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.  If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com

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